Short answer
Advanced Micro Devices (AMD) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 27, 2025. Quarterly revenue was $9.2B (up 35.6% year over year) with net income of $1.2B.
Q3 2025 key financials · XBRL
- Revenue
- $9.2B
- +35.6% YoY · +20.3% QoQ
- Net income
- $1.2B
- +61.2% YoY · +42.5% QoQ
- Operating margin
- 13.7%
- Gross margin
- 51.7%
- EPS (diluted)
- $0.76
- +61.7% YoY · +43.4% QoQ
Source: XBRL data from the Advanced Micro Devices (AMD) Q3 2025 10-Q on SEC EDGAR. USD.
Advanced Micro Devices Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $9.25B Q3 FY2025, up 36% YoY from $6.82B; nine months revenue $24.4B, up 34% YoY from $18.1B
- Gross margin 52% Q3 FY2025 vs 50% YoY; nine months gross margin 47% vs 49% YoY due to inventory charges
- Client and Gaming segment best performer: revenue $4.05B up 73% YoY, operating income $867M vs $288M YoY
- Embedded segment weakest: revenue $857M down 8% YoY, operating income $283M down from $372M YoY
- Cash $7.2B Q3 FY2025 vs $5.1B Dec 2024; operating cash flow $5.1B YTD; $1.3B stock repurchases returned to shareholders
- Management highlights risks from US export controls, notes $800M inventory charge on MI308 GPU; expects strong AI-driven demand; no guidance update given
Risk Factors
- New regulatory risk: April 2025 US export license on AMD Instinct MI308 led to $800M inventory charges, reflecting tightened China export controls
- Updated regulatory risk: August 2025 US govt expects 15% revenue share from licensed MI308 China sales, increasing potential litigation and costs
- Operational risk: Dependency on TSMC for 7 nm or smaller wafer supply critical; any disruption could materially harm supply and revenues
- Competitive risk: NVIDIA-Intel September 2025 partnership may intensify competition and pricing pressure, potentially reducing AMD’s margins and market share
- Financial risk: $3B revolving credit facility with covenants limiting liens and asset sales, requiring minimum consolidated interest coverage ratio quarterly
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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