AMD expects fourth-quarter revenue of approximately $17 billion, plus or minus 3%, according to Tom’s Hardware, which reported on Wednesday, November 4, 2026 that Intel expects fourth-quarter revenue of $15 billion to $16 billion. If AMD meets its guidance, its quarterly revenue would exceed Intel’s for the first time, Tom’s Hardware says. The figures below come from Tom’s Hardware’s account of AMD’s third-quarter results and earnings call.

Third-quarter results, as reported

  • Revenue: $13.377 billion, compared with $9.25 billion a year earlier and $11.54 billion in the previous quarter.
  • Margins and earnings: gross margin of 54%; net income up 95% to $2.43 billion; diluted earnings per share of $1.46, against $0.75 a year earlier.
  • Data Center: a record $8.55 billion, up 97% from $4.34 billion a year earlier and up 27% from the previous quarter. Operating income rose 168% to $2.88 billion, and operating margin widened from 25% to 34%.
  • Client and Gaming: $3.722 billion, down 8% year over year and 3% from the previous quarter. Client CPU sales were $2.95 billion. Gaming sales fell to $773 million from $1.298 billion a year earlier, as Microsoft and Sony bought fewer console chips and discrete Radeon sales stayed weak, according to the report.
  • Embedded: $1.11 billion, up 29% year over year, with operating income up 60% to $453 million.

Guidance for the fourth quarter

  • Revenue of approximately $17 billion, plus or minus 3%, which Tom’s Hardware says implies 66% growth year over year and 27% sequential growth at the midpoint.
  • Data Center revenue of approximately $12.8 billion, up from $8.55 billion, driven by the ramp of Instinct MI455X accelerators and Helios rack-scale systems, per Tom’s Hardware’s reading of the company’s guidance.
  • Client and Gaming revenue to fall by more than 20% sequentially as higher memory prices weaken PC demand.
  • Embedded revenue to grow by double digits sequentially.

Outlook for 2027 and other remarks

Tom’s Hardware quotes AMD chief executive Lisa Su on the earnings call: “We now expect server revenue to double year over year in 2027 and data center AI revenue to grow even faster than we projected ninety days ago.” The report says AMD expects Data Center to exceed 80% of total revenue in 2027, against 64% in the latest quarter and 47% in the third quarter of 2025. Su also said AMD is planning for PC unit shipments to decline by a double-digit percentage in 2027 and expects to outperform the market, and that AMD is on track to close more than $18 billion of design wins in 2026. AMD said Anthropic, Meta, Microsoft, OpenAI and Oracle Cloud Infrastructure are running workloads on its first Helios systems, according to the report.

How the comparison with Intel is made

Tom’s Hardware compares the two companies’ company-wide quarterly revenue guidance. It puts AMD’s projected advantage at about $1.5 billion at the midpoints of the two ranges. Both numbers are forecasts, not results, and the AMD figure carries a range of plus or minus 3%.

Sources and notes

This post is based on Tom’s Hardware’s report by Anton Shilov, published November 4, 2026. Lens did not read AMD’s earnings release or call transcript or Intel’s guidance statement, and every figure here is as Tom’s Hardware reported it. The chart at the top is a Lens graphic of those figures.

Image: an AMD Ryzen 9 3900X desktop processor, by Phillip Voß via Wikimedia Commons, licensed under CC BY-SA 4.0; cropped. A 2019 consumer chip, not a data-center part; it does not show the events described. Chart: Lens, from figures reported by Tom’s Hardware.