# EDGAR Filing Document

**Accession Number:** 0000002488
**File Stem:** 0000002488-25-000163
**Filing Date:** 2025-11
**Character Count:** 76707
**Document Hash:** 80172b17f6402ec5b41be5b52e7bc92f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000002488-25-000163.hdr.sgml**: 20251104

**ACCESSION NUMBER**: 0000002488-25-000163

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20251104

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251104

**DATE AS OF CHANGE**: 20251104

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVANCED MICRO DEVICES INC
- **CENTRAL INDEX KEY:** 0000002488
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 941692300
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1227

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-07882
- **FILM NUMBER:** 251449302

**BUSINESS ADDRESS:**
- **STREET 1:** 2485 AUGUSTINE DRIVE
- **CITY:** SANTA CLARA
- **STATE:** CA
- **ZIP:** 95054
- **BUSINESS PHONE:** (408) 749-4000

**MAIL ADDRESS:**
- **STREET 1:** 2485 AUGUSTINE DRIVE
- **CITY:** SANTA CLARA
- **STATE:** CA
- **ZIP:** 95054

?xml version='1.0' encoding='ASCII'? amd-20251104

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**November 4, 2025** 

**Date of Report (Date of earliest event reported)**

![amdlogo.jpg](amd-20251104_g1.jpg)

**ADVANCED MICRO DEVICES, INC.** 

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-07882** | **94-1692300** |
| **(State or Other Jurisdiction of**<br>**Incorporation)** | **(Commission**<br>**File Number)** | **(IRS Employer**<br>**Identification No.)** |

---

**2485 Augustine Drive** 

**Santa Clara, California 95054** 

**(Address of principal executive offices) (Zip Code)**

**(408) 749-4000** 

**(Registrant's telephone number, including area code)**

**N/A**

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.01 par value | AMD  | The Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**<u>Item 2.02 Results of Operations and Financial Condition.</u>**

On November 4, 2025, Advanced Micro Devices, Inc. ("AMD") announced its financial results for its third quarter of 2025 ended September 27, 2025 in a press release that is attached hereto as Exhibit 99.1. Attached hereto as Exhibit 99.2 is a presentation regarding AMD's third quarter of 2025.

The attached Exhibits 99.1 and 99.2, in addition to financial results presented on a U.S. Generally Accepted Accounting Principles ("GAAP") basis, contains certain non-GAAP financial information and forward-looking financial guidance. Certain of these non-GAAP financial measures will be used in AMD's earnings conference call. A reconciliation of these non-GAAP financial measures to their nearest GAAP equivalents is provided in the data tables at the end of the attached Exhibits 99.1 and 99.2. These non-GAAP financial measures should be viewed in addition to and not as a substitute for or superior to AMD's reported results prepared in accordance with GAAP.

The information in this report furnished pursuant to Items 2.02 and 7.01, including Exhibits 99.1 and 99.2 attached hereto, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, if such subsequent filing specifically references the information furnished pursuant to Items 2.02 and 7.01 of this report.

**<u>Item 7.01 Regulation FD Disclosure.</u>**

The information set forth under Item 2.02 "Results of Operations and Financial Condition" is incorporated into this Item 7.01 by reference.

**<u>Item 9.01 Financial Statements and Exhibits.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;***(d) Exhibits.***

---

| | |
|:---|:---|
| EXHIBIT INDEX | EXHIBIT INDEX |
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Press Release dated](q32025991.htm)[November](q32025991.htm)[4](q32025991.htm)[, 2025](q32025991.htm)</u> |
| 99.2 | <u>[Third Quarter 2025 Financial Results Presentation](amdq325earningsslidesfin.htm)</u> |
| 104 | Inline XBRL for the cover page of this Current Report on Form 8-K |

---

------

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: November 4, 2025 | **ADVANCED MICRO DEVICES, INC.** | **ADVANCED MICRO DEVICES, INC.** |
|  | **By:** | */s/ Jean Hu* |
|  | **Name:** | **Jean Hu** |
|  | **Title:** | **Executive Vice President, Chief Financial Officer & Treasurer** |

---

## Exhibit 99.1

![image20a.jpg](image20a.jpg)

***NEWS RELEASE***

**Media Contact:**

**Phil Hughes**

AMD Communications

512-865-9697

phil.hughes@amd.com

&nbsp;&nbsp;&nbsp;&nbsp;

**Investor Contact:**

**Liz Stine**

AMD Investor Relations

720-652-3965

liz.stine@amd.com

**AMD Reports Third Quarter 2025 Financial Results**

**SANTA CLARA, Calif. ― November 4, 2025 ―** AMD (NASDAQ:AMD) today announced financial results for the third quarter of 2025. Third quarter revenue was a record $9.2 billion, gross margin was 52%, operating income was $1.3 billion, net income was $1.2 billion and diluted earnings per share was $0.75. On a non-GAAP<sup>(\*)</sup> basis, gross margin was 54%, operating income was $2.2 billion, net income was $2 billion and diluted earnings per share was $1.20. Our third quarter results did not include any revenue from shipments of AMD Instinct™ MI308 GPU products to China.

"We delivered an outstanding quarter, with record revenue and profitability reflecting broad based demand for our high-performance EPYC and Ryzen processors and Instinct AI accelerators," said Dr. Lisa Su, AMD chair and CEO. "Our record third quarter performance and strong fourth quarter guidance marks a clear step up in our growth trajectory as our expanding compute franchise and rapidly scaling data center AI business drive significant revenue and earnings growth."

"We delivered record quarterly revenue of $9.2 billion, up 36% year-over-year, and generated record free cash flow, reflecting the strength of our leadership portfolio and disciplined execution," said Jean Hu, AMD executive vice president, chief financial officer and treasurer. "Our continued investments in AI and high-performance computing are driving significant growth and position AMD to deliver long-term value creation."

------

**GAAP Quarterly Financial Results**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Q3 2025** <sup>(1)</sup> | **Q3 2024** | **Y/Y** | **Q2 2025** <sup>(2)</sup> | **Q/Q** |
| Revenue ($M) | $9246 | $6819 | Up 36% | $7685 | Up 20% |
| Gross profit ($M) | $4780 | $3419 | Up 40% | $3059 | Up 56% |
| Gross margin | 52% | 50% | Up 2 ppts | 40% | Up 12 ppts |
| Operating expenses ($M) | $3510 | $2695 | Up 30% | $3193 | Up 10% |
| Operating income (loss) ($M) | $1270 | $724 | Up 75% | $(134) | Up 1,048% |
| Operating margin | 14% | 11% | Up 3 ppts | (2)% | Up 16 ppts |
| Net income ($M) | $1243 | $771 | Up 61% | $872 | Up 43% |
| Diluted earnings per share | $0.75 | $0.47 | Up 60% | $0.54 | Up 39% |

---

**Non-GAAP(\*) Quarterly Financial Results**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Q3 2025** <sup>(1)</sup> | **Q3 2024** | **Y/Y** | **Q2 2025** <sup>(2)</sup> | **Q/Q** |
| Revenue ($M) | $9246 | $6819 | Up 36% | $7685 | Up 20% |
| Gross profit ($M) | $4992 | $3657 | Up 37% | $3326 | Up 50% |
| Gross margin | 54% | 54% | Flat | 43% | Up 11 ppts |
| Operating expenses ($M) | $2754 | $1942 | Up 42% | $2429 | Up 13% |
| Operating income ($M) | $2238 | $1715 | Up 30% | $897 | Up 149% |
| Operating margin | 24% | 25% | Down 1 ppt | 12% | Up 12 ppts |
| Net income ($M) | $1965 | $1504 | Up 31% | $781 | Up 152% |
| Diluted earnings per share | $1.20 | $0.92 | Up 30% | $0.48 | Up 150% |

---

(1) Third quarter of 2025 results do not include any revenue from shipments of the AMD Instinct™ MI308 GPU products to China.

(2) Second quarter of 2025 results included $800 million in inventory and related charges as a result of the U.S. Government's export control on AMD Instinct™ MI308 data center GPU products. Excluding these charges, non-GAAP gross margin for the second quarter of 2025 would have been approximately 54%.

**Segment Summary**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Data Center segment revenue was $4.3 billion, up 22% year-over-year primarily driven by strong demand for 5<sup>th</sup> Gen AMD EPYC™ processors and AMD Instinct MI350 Series GPUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Client and Gaming segment revenue was $4 billion, up 73% year-over-year. Client revenue was a record $2.8 billion, up 46% year-over-year primarily driven by record sales of Ryzen™ processors and a richer product mix. Gaming revenue was $1.3 billion, up 181% year-over-year driven by higher semi-custom revenue and strong demand for Radeon™ gaming GPUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Embedded segment revenue was $857 million, down 8% year-over-year.

**Recent PR Highlights** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Customer momentum for AMD AI platforms is accelerating:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ OpenAI and AMD <u>announced</u> a strategic partnership where AMD will be a core preferred partner to deploy 6 gigawatts of AMD GPUs to power OpenAI's next generation AI infrastructure, with the first 1-gigawatt deployment of AMD Instinct MI450 GPUs set to begin in the second half of 2026.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ AMD <u>unveiled</u> its "Helios" rack scale design that supports the new Open Rack Wide specification introduced by Meta at Open Compute Project Global Summit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ IBM and AMD <u>announced</u> a multi-year collaboration to provide Zyphra with advanced AI infrastructure, leveraging a large cluster of AMD Instinct MI350X GPUs to power next-generation multimodal AI models.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Cohere and AMD <u>expanded</u> their collaboration, bringing AMD Instinct GPU-powered infrastructure to Cohere's full suite of enterprise AI offerings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Vultr <u>announced</u> the global availability of AMD Instinct MI355X GPUs across its cloud platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ DigitalOcean <u>expanded</u> its AMD-based cloud offerings to support a broader range of AI workloads with AMD Instinct MI325X GPUs available now and AMD Instinct MI350X GPUs available later this year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ AMD and Tech Mahindra <u>announced</u> a collaboration to bring AMD Instinct GPUs and AMD EPYC processors to the Cloud BlazeTech enterprise AI solution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AMD and the U.S. Department of Energy <u>announced</u> two new next-generation supercomputers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ The Discovery supercomputer, expected to be delivered in 2028, will be based on next-gen AMD EPYC CPUs, codenamed "Venice," and AMD Instinct MI430X GPUs, a new MI400 Series accelerator designed for sovereign AI and scientific computing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AMD <u>released</u> ROCm™ 7 software, boosting training and inference performance and expanding enterprise tools for infrastructure management and deployment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AMD <u>announced</u> the completion of the divestiture of the ZT Systems data center infrastructure manufacturing business to Sanmina.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AMD partners expanded their cloud offerings based on AMD EPYC processors to meet growing compute demand for enterprise and AI workloads:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• IBM and AMD <u>announced</u> plans to combine quantum computers and high-performance compute to drive scalable, open-source next-generation computing architectures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AMD delivered new capabilities for the most demanding PC and gaming workloads, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ The <u>AMD Ryzen™ Threadripper™ 9000WX and Ryzen Threadripper PRO 9000X Series processors</u>, delivering unmatched multi-core performance and platform capabilities for creators, enthusiasts and professionals.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ <u>AMD FSR 4</u>, a ML-based upscaling technology that enhances frame rates and visuals, saw rapid adoption with supported games doubling since launch to over 85.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AMD expanded its x86 embedded processor portfolio, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ The <u>AMD EPYC Embedded 4005 series processors</u>, built to deliver performance, optimized system costs and extended deployment lifecycles in network security appliances and entry-level industrial edge servers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ The <u>AMD Ryzen Embedded 9000 processors</u> delivering exceptional performance-per-watt, low latency, and the long-term stability for industrial PCs, automation systems and machine vision applications.

**Current Outlook**

AMD's outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under "Cautionary Statement" below.

For the fourth quarter of 2025, AMD expects revenue to be approximately $9.6 billion, plus or minus $300 million. At the mid-point of the revenue range, this represents year-over-year growth of approximately 25% and sequential growth of approximately 4%. Non-GAAP gross margin is expected to be approximately 54.5%. Our current outlook does not include any revenue from AMD Instinct MI308 shipments to China.

**AMD Teleconference**

AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its third quarter 2025 financial results. AMD will provide a real-time audio broadcast of the teleconference on the <u>Investor Relations</u> page of its website at <u>www.amd.com</u>.

------

---

| | | | |
|:---|:---|:---|:---|
| **RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES** | **RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES** | **RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES** | **RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES** |
| **(in millions, except per share data) (Unaudited)** | | | |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **September 27,<br>2025** | **June 28,<br>2025** | **September 28,<br>2024** |
| **GAAP gross profit** | $**4780** | $**3059** | $**3419** |
| &nbsp;&nbsp;&nbsp;&nbsp;***GAAP gross margin*** | ***52*** *%*** | ***40*** *%*** | ***50*** *%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 7 | 6 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 260 | 260 | 233 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related and other costs <sup>(1)</sup> |  | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory loss at (recovery from) contract manufacturer <sup>(2)</sup> | (67) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss contingency on legal matter | 12 |  |  |
| **Non-GAAP gross profit** | $**4992** | $**3326** | $**3657** |
| &nbsp;&nbsp;&nbsp;&nbsp;***Non-GAAP gross margin*** | ***54*** *%*** | ***43*** *%*** | ***54*** *%*** |
| **GAAP operating expenses** <sup>(3)</sup> | $**3510** | $**3193** | $**2695** |
| &nbsp;&nbsp;&nbsp;&nbsp;***GAAP operating expenses/revenue %*** | ***38*** *%*** | ***42*** *%*** | ***40*** *%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 412 | 363 | 346 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 302 | 308 | 352 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related and other costs <sup>(1)</sup> | 42 | 93 | 55 |
| **Non-GAAP operating expenses** <sup>(3)</sup> | $**2754** | $**2429** | $**1942** |
| &nbsp;&nbsp;&nbsp;&nbsp;***Non-GAAP operating expenses/revenue %*** | ***30*** *%*** | ***32*** *%*** | ***28*** *%*** |
| **GAAP operating income (loss)** | $**1270** | $**(134)** | $**724** |
| &nbsp;&nbsp;&nbsp;&nbsp;***GAAP operating margin*** | ***14*** *%*** | ***(2)*** *%*** | ***11*** *%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 419 | 369 | 351 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 562 | 568 | 585 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related and other costs <sup>(1)</sup> | 42 | 94 | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory loss at (recovery from) contract manufacturer <sup>(2)</sup> | (67) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss contingency on legal matter | 12 |  |  |
| **Non-GAAP operating income** | $**2238** | $**897** | $**1715** |
| &nbsp;&nbsp;&nbsp;&nbsp;***Non-GAAP operating margin*** | ***24*** *%*** | ***12*** *%*** | ***25*** *%*** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **September 27,<br>2025** | **September 27,<br>2025** | **June 28,<br>2025** | **June 28,<br>2025** | **September 28,<br>2024** | **September 28,<br>2024** |
| **GAAP net income / earnings per share** | $**1243** | $**0.75** | $**872** | $**0.54** | $**771** | $**0.47** |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 419 | 0.26 | 369 | 0.23 | 351 | 0.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 562 | 0.34 | 568 | 0.35 | 585 | 0.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related and other costs <sup>(1)</sup> | 43 | 0.03 | 96 | 0.05 | 56 | 0.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory loss at (recovery from) contract manufacturer <sup>(2)</sup> | (67) | (0.04) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss contingency on legal matter | 12 | 0.01 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gains) losses on equity investments, net | (26) | (0.02) | (61) | (0.04) | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity income in investee | (10) |  | (8) |  | (7) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Release of reserves for uncertain tax positions <sup>(4)</sup> |  |  | (853) | (0.52) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax provision | (140) | (0.09) | (98) | (0.06) | (251) | (0.15) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income from discontinued operations, net of tax <sup>(5)</sup> | (71) | (0.04) | (104) | (0.07) |  |  |
| **Non-GAAP net income / earnings per share** | $**1965** | $**1.20** | $**781** | $**0.48** | $**1504** | $**0.92** |

---

------

(1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges.

(2) Inventory loss at (recovery from) contract manufacturer is related to losses due to an incident at a third-party contract manufacturing facility in Q1'24 and the corresponding recovery.

(3) Effective first quarter of 2025, licensing gain is reclassified against Marketing, general and administrative expenses as the amounts were immaterial.

(4) Release of reserves for uncertain tax positions pertains to the reasonable cause relief related to dual consolidated losses approved by IRS in Q2'25.

(5) Income from discontinued operations is related to ZT Systems' manufacturing business which is classified as held-for-sale.

---

| | |
|:---|:---|
| **RECONCILIATION OF GAAP TO ADJUSTED NON-GAAP FINANCIAL MEASURES** | **RECONCILIATION OF GAAP TO ADJUSTED NON-GAAP FINANCIAL MEASURES** |
| **(Millions) (Unaudited)** | |
| | **Three Months Ended** |
| | **June 28,<br>2025** |
| **GAAP gross profit** | $**3059** |
| &nbsp;&nbsp;***GAAP gross margin*** | ***40*** *%*** |
| Stock-based compensation, amortization of acquisition-related intangibles, acquisition-related and other costs | 267 |
| Inventory and related charges associated with U.S. export restrictions | 800 |
| **Non-GAAP gross profit (as adjusted to exclude inventory and related charges associated with U.S. export restrictions)** | $**4126** |
| &nbsp;&nbsp;***Non-GAAP gross margin (as adjusted to exclude inventory and related charges associated with U.S. export restrictions)*** | **54%** |

---

**About AMD**

For more than 55 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) <u>website</u>, <u>blog</u>, <u>LinkedIn</u> and <u>X</u> pages.

**Cautionary Statement**

This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, the features, functionality, performance, availability, timing and expected benefits of future AMD products; AMD's growth trajectory; the expected revenue and earnings growth from AMD's compute franchise and AI business; AMD's ability to drive significant growth and position itself to deliver long-term value creation based on continued investments in AI and high-performance computing; the strategic partnership with OpenAI and the deployment of six gigawatts of AMD Instinct™ GPUs and timing thereof; the strategic partnership with Oracle and the deployment of 50,000 GPUs and timing thereof; and AMD's expected fourth quarter 2025 financial outlook, including revenue and non-GAAP gross margin, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, import tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD's products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD's ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or

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other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD's products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD's products; AMD's reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD's products; AMD's reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD's internal business processes and information systems; compatibility of AMD's products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD's supply chain; AMD's ability to rely on third party supply-chain logistics functions; AMD's ability to effectively control sales of its products on the gray market; impact of climate change on AMD's business; AMD's ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD's notes, the guarantees of Xilinx's notes and the revolving credit agreement; impact of acquisitions, joint ventures and/or strategic investments on AMD's business and AMD's ability to integrate acquired businesses, including ZT Systems; impact of any impairment of the combined company's assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD's ability to attract and retain key employees; and AMD's stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD's Securities and Exchange Commission filings, including but not limited to AMD's most recent reports on Forms 10-K and 10-Q.

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| | |
|:---|:---|
| (\*) | In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue percent, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2025, AMD used a non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. Additionally, AMD has provided an adjusted non-GAAP gross profit and gross margin for the second quarter of 2025 which excluded the inventory and related charges associated with U.S. export restrictions. AMD also provides adjusted EBITDA, free cash flow and free cash flow margin as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD's performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD's reported results prepared in accordance with GAAP and should be read only in conjunction with AMD's Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables in this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD's financial outlook, which is based on current expectations as of November 4, 2025, and assumptions and beliefs that involve numerous risks and uncertainties. Adjustments to arrive at the GAAP gross margin outlook typically include stock-based compensation, amortization of acquired intangible assets and acquisition-related and other costs. The timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD's control, therefore, a reconciliation to equivalent GAAP measures is not practicable at this time. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law. |

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***©2025 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, AMD Instinct, EPYC, Pensando, Radeon, ROCm, Ryzen, Spartan, Threadripper, Ultrascale+, Versal and combinations thereof, are trademarks of Advanced Micro Devices, Inc.***

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**ADVANCED MICRO DEVICES, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Millions except per share amounts and percentages) (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **September 27,<br>2025** | **June 28,<br>2025** | **September 28,<br>2024** | **September 27,<br>2025** | **September 28,<br>2024** |
| Net revenue | $9246 | $7685 | $6819 | $24369 | $18127 |
| Cost of sales | 4206 | 4366 | 3167 | 12023 | 8590 |
| Amortization of acquisition-related intangibles | 260 | 260 | 233 | 771 | 694 |
| Total cost of sales | 4466 | 4626 | 3400 | 12794 | 9284 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 4780 | 3059 | 3419 | 11575 | 8843 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross margin | 52% | 40% | 50% | 47% | 49% |
| Research and development | 2139 | 1894 | 1636 | 5761 | 4744 |
| Marketing, general and administrative | 1069 | 991 | 707 | 2946 | 1954 |
| Amortization of acquisition-related intangibles | 302 | 308 | 352 | 926 | 1116 |
| Total operating expenses | 3510 | 3193 | 2695 | 9633 | 7814 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating income (loss) | 1270 | (134) | 724 | 1942 | 1029 |
| Interest expense | (37) | (38) | (23) | (95) | (73) |
| Other income (expense), net | 82 | 98 | 36 | 219 | 144 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations before income taxes and equity income | 1315 | (74) | 737 | 2066 | 1100 |
| Income tax provision (benefit) | 153 | (834) | (27) | (558) | (38) |
| Equity income in investee | 10 | 8 | 7 | 25 | 21 |
| Income from continuing operations, net of tax | 1172 | 768 | 771 | 2649 | 1159 |
| Income from discontinued operations, net of tax | 71 | 104 |  | 175 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $1243 | $872 | $771 | $2824 | $1159 |
| Earnings per share: |  |  |  |  |  |
| Earnings from continuing operations - basic | $0.72 | $0.47 | $0.48 | $1.63 | $0.72 |
| Earnings from discontinued operations - basic | $0.04 | $0.07 | $— | $0.11 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic earnings per share | $0.76 | $0.54 | $0.48 | $1.74 | $0.72 |
| Earnings from continuing operations - diluted | $0.71 | $0.47 | $0.47 | $1.62 | $0.71 |
| Earnings from discontinued operations - diluted | $0.04 | $0.07 | $— | $0.11 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings per share | $0.75 | $0.54 | $0.47 | $1.73 | $0.71 |
| Shares used in per share calculation |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 1626 | 1623 | 1620 | 1623 | 1619 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 1641 | 1630 | 1636 | 1632 | 1638 |

---

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**ADVANCED MICRO DEVICES, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Millions)**

---

| | | |
|:---|:---|:---|
| | **September 27,<br>2025** | **December 28,<br>2024** |
| | (Unaudited) | |
| **ASSETS** |  |  |
| **Current assets:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $4808 | $3787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | 2435 | 1345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 6201 | 6192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 7313 | 5734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets held for sale | 3990 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 2253 | 1991 |
| **Total current assets** | 27000 | 19049 |
| Property and equipment, net | 2205 | 1802 |
| Goodwill | 25083 | 24839 |
| Acquisition-related intangibles, net | 17250 | 18930 |
| Deferred tax assets | 633 | 688 |
| Other non-current assets | 4720 | 3918 |
| **Total Assets** | $76891 | $69226 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| **Current liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $3483 | $2466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 5112 | 4260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt, net | 873 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities held for sale | 1908 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 324 | 555 |
| **Total current liabilities** | 11700 | 7281 |
| Long-term debt | 2347 | 1721 |
| Long-term operating lease liabilities | 650 | 491 |
| Deferred tax liabilities | 326 | 349 |
| Other long-term liabilities | 1078 | 1816 |
| Stockholders' equity: |  |  |
| Capital stock: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock, par value $0.01 | 17 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 62657 | 61362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury stock, at cost | (7059) | (6106) |
| Retained earnings | 5188 | 2364 |
| Accumulated other comprehensive loss | (13) | (69) |
| **Total stockholders' equity** | 60790 | 57568 |
| **Total Liabilities and Stockholders' Equity** | $76891 | $69226 |

---

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**ADVANCED MICRO DEVICES, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Millions) (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **September 27,<br>2025** | **September 28,<br>2024** | **September 27,<br>2025** | **September 28,<br>2024** |
| Cash flows from operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $1243 | $771 | $2824 | $1159 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income from discontinued operations, net of tax | (71) |  | (175) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 192 | 171 | 556 | 499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 562 | 585 | 1697 | 1810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 419 | 351 | 1152 | 1068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 218 | (607) | 18 | (863) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Release of reserves for uncertain tax positions |  |  | (853) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory loss at (recovery from) contract manufacturer | (67) |  | (67) | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other |  | 17 | 29 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | (1085) | (2213) | (7) | (1961) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (636) | (386) | (1579) | (1096) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and current assets | 118 | 703 | (259) | (171) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 451 | 873 | 998 | 574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued and other liabilities | 444 | 363 | (145) | 626 |
| Net cash provided by operating activities of continuing operations | 1788 | 628 | 4189 | 1742 |
| Net cash provided by operating activities of discontinued operations | 371 |  | 920 |  |
| Net cash flows provided by operations | 2159 | 628 | 5109 | 1742 |
| Cash flows from investing activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (258) | (132) | (752) | (428) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of short-term investments | (1314) | (142) | (2110) | (707) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from maturity of short-term investments | 299 | 149 | 982 | 1351 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sale of short-term investments | 18 | 589 | 66 | 591 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of strategic investments | (74) | (37) | (432) | (131) |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisitions, net of cash acquired |  | (548) | (1716) | (548) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  | (17) |  | (15) |
| Net cash (used in) provided by investing activities of continuing operations | (1329) | (138) | (3962) | 113 |
| Net cash (used in) investing activities of discontinued operations | (8) |  | (30) |  |
| Net cash flows (used in) provided by investing activities | (1337) | (138) | (3992) | 113 |
| Cash flows from financing activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from debt and commercial paper issuance, net of issuance costs |  |  | 2441 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayment of debt and commercial paper |  |  | (950) | (750) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of common stock through employee equity plans | 10 | 4 | 169 | 152 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchases of common stock | (89) | (250) | (1316) | (606) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock repurchases for tax withholding on employee equity plans | (371) | (460) | (447) | (686) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  |  |  | (1) |
| Net cash (used in) provided by financing activities of continuing operations | (450) | (706) | (103) | (1891) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | 372 | (216) | 1014 | (36) |
| Cash, cash equivalents and restricted cash at beginning of period | 4453 | 4113 | 3811 | 3933 |
| Cash, cash equivalents and restricted cash at end of period | $4825 | $3897 | $4825 | $3897 |
| Reconciliation of cash, cash equivalents and restricted cash |  |  |  |  |
| Cash and cash equivalents | $4808 | $3897 | $4808 | $3897 |
| Restricted cash included in Prepaid expenses and other current assets | 17 |  | 17 |  |
| Cash, cash equivalents and restricted cash at end of period | $4825 | $3897 | $4825 | $3897 |

---

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**ADVANCED MICRO DEVICES, INC.**

**SELECTED CORPORATE DATA**

**(Millions) (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| | **September 27,<br>2025** | **June 28,<br>2025** | **September 28,<br>2024** | **September 27,<br>2025** | **September 28,<br>2024** |
| **Segment and Disaggregated Revenue Information** <sup>(1)</sup> | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Revenue:** | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Data Center Segment | $4341 | $3240 | $3549 | $11255 | $8720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Client and Gaming Segment |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Client | 2750 | 2499 | 1881 | 7543 | 4741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gaming | 1298 | 1122 | 462 | 3067 | 2032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Client and Gaming | 4048 | 3621 | 2343 | 10610 | 6773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Embedded Segment | 857 | 824 | 927 | 2504 | 2634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total net revenue** | $9246 | $7685 | $6819 | $24369 | $18127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Operating Income (Loss):** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Data Center Segment | $1074 | $(155) | $1041 | $1851 | $2325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Client and Gaming Segment | 867 | 767 | 288 | 2130 | 691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Embedded Segment | 283 | 275 | 372 | 886 | 1059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All other | (954) | (1021) | (977) | (2925) | (3046) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total operating income (loss)** | $1270 | $(134) | $724 | $1942 | $1029 |
| **Other Data** |  |  |  |  |  |
| Capital expenditures | $258 | $282 | $132 | $752 | $428 |
| Adjusted EBITDA <sup>(2)</sup> | $2431 | $1088 | $1887 | $5473 | $4612 |
| Cash, cash equivalents and short-term investments | $7243 | $5867 | $4544 | $7243 | $4544 |
| Free cash flow <sup>(3)</sup> | $1530 | $1180 | $496 | $3437 | $1314 |
| Total assets | $76891 | $74820 | $69636 | $76891 | $69636 |
| Total debt | $3220 | $3218 | $1720 | $3220 | $1720 |

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(1) The Company operates as three operating segments, Data Center, Client and Gaming, and Embedded segments.<br>The Data Center segment primarily includes Artificial Intelligence (AI) accelerators, server microprocessors (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), Smart Network Interface Cards (SmartNICs) and Adaptive System-on-Chip (SoC) products for data centers.<br>The Client and Gaming segment primarily includes CPUs, APUs, and chipsets for desktops and notebooks, and discrete GPUs, semi-custom SoC products and development services.<br>The Embedded segment primarily includes embedded CPUs, GPUs, APUs, FPGAs, System on Modules (SOMs), and Adaptive SoC products. <br>From time to time, the Company may also sell or license portions of its IP portfolio. <br>All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangibles, employee stock-based compensation expense, acquisition-related and other costs, inventory loss at (recovery from) contract manufacturer and restructuring charges.

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(2) **Reconciliation of GAAP Net Income to Adjusted EBITDA**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| **(Millions) (Unaudited)** | **September 27,<br>2025** | **June 28,<br>2025** | **September 28,<br>2024** | **September 27,<br>2025** | **September 28,<br>2024** |
| GAAP net income | $1243 | $872 | $771 | $2824 | $1159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 37 | 38 | 23 | 95 | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other (income) expense, net | (82) | (98) | (36) | (219) | (144) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax provision (benefit) | 153 | (834) | (27) | (558) | (38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity income in investee | (10) | (8) | (7) | (25) | (21) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 419 | 369 | 351 | 1152 | 1068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 192 | 189 | 171 | 556 | 499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 562 | 568 | 585 | 1697 | 1810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related and other costs | 43 | 96 | 56 | 181 | 141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory loss at (recovery from) contract manufacturer | (67) |  |  | (67) | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss contingency on legal matter | 12 |  |  | 12 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from discontinued operations, net of tax | (71) | (104) |  | (175) |  |
| Adjusted EBITDA | $2431 | $1088 | $1887 | $5473 | $4612 |

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The Company presents "Adjusted EBITDA" as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other (income) expense, net, income tax provision (benefit), equity income in investee, stock-based compensation, depreciation and amortization expense, amortization of acquisition-related intangibles, acquisition-related and other costs, inventory loss at (recovery from) contract manufacturer, loss contingency on legal matter, and income from discontinued operations, net of tax. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company's calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of net income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows.

(3) **Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended** | **Nine Months Ended** |
| **(Millions except percentages) (Unaudited)** | **September 27,<br>2025** | **June 28,<br>2025** | **September 28,<br>2024** | **September 27,<br>2025** | **September 28,<br>2024** |
| GAAP net cash provided by operating activities of continuing operations | $1788 | $1462 | $628 | $4189 | $1742 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Operating cash flow margin % from continuing operations* | *19 %* | *19 %* | *9 %* | *17 %* | *10 %* |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (258) | (282) | (132) | (752) | (428) |
| Free cash flow | $1530 | $1180 | $496 | $3437 | $1314 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Free cash flow margin %* | *17 %* | *15 %* | *7 %* | *14 %* | *7 %* |

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The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities of continuing operations for capital expenditures, and free cash flow margin % is free cash flow expressed as a percentage of the Company's net revenue. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company's calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities.

## Exhibit 99.2

![](amdq325earningsslidesfin001.jpg)

AMD Financial Results Third Quarter 2025 November 4, 2025

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2 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Cautionary Statement This presentation contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD), such as the features, functionality, performance, availability, timing and expected benefits of future AMD products; AMD's large growth opportunities across diverse set of markets; AMD's data center AI accelerator opportunity; the strategic partnership with OpenAI and the deployment of six gigawatts of AMD Instinct GPUs and timing thereof; the strategic partnership with Oracle and the deployment of 50,000 GPUs and timing thereof; AMD's expected fourth quarter 2025 financial outlook, including revenue, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP Interest Expense/Other Income (Expense), net, non-GAAP tax rate and diluted share count; AMD's large and compelling TAM; AMD's ability to expand Data Center and AI leadership; AMD's financial and operating performance; and AMD's ability to drive long-term shareholder returns, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this presentation are based on current beliefs, assumptions and expectations, speak only as of the date of this presentation and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, import tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD's products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD's ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD's products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD's products; AMD's reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD's products; AMD's reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD's internal business processes and information systems; compatibility of AMD's products with some or all industry- standard software and hardware; costs related to defective products; efficiency of AMD's supply chain; AMD's ability to rely on third party supply-chain logistics functions; AMD's ability to effectively control sales of its products on the gray market; impact of climate change on AMD's business; AMD's ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD's notes, the guarantees of Xilinx's notes and the revolving credit agreement; impact of acquisitions, joint ventures and/or strategic investments on AMD's business and AMD's ability to integrate acquired businesses, including ZT Systems; impact of any impairment of the combined company's assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD's ability to attract and retain key employees; and AMD's stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD's Securities and Exchange Commission filings, including but not limited to AMD's most recent reports on Forms 10-K and 10-Q. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. NON-GAAP Financial Measures In this presentation, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue percent, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2025, AMD uses a projected non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. Additionally, AMD has provided an adjusted non-GAAP gross profit and gross margin for the second quarter of 2025 which excluded the inventory and related charges associated with U.S. export restrictions. AMD also provides adjusted free cash flow as supplemental non-GAAP measures of its performance. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD's performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance. The non-GAAP financial measures disclosed in this presentation should be viewed in addition to and not as a substitute for or superior to AMD's reported results prepared in accordance with GAAP and should be read only in conjunction with AMD's Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the Appendices at the end of this presentation. This presentation also contains forward-looking non-GAAP measures concerning AMD's financial outlook such as gross margin, operating expenses, interest expense/other income (expense), net, tax rate and share count. These forward-looking non-GAAP measures are based on current expectations as of November 4, 2025, and assumptions and beliefs that involve numerous risks and uncertainties. AMD undertakes no intent or obligation to publicly update or revise its forward-looking statements made in this presentation except as may be required by law.

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3 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Our Journey Leadership Product Portfolio Expanding Customer & Partner Ecosystem Data Center and AI Growth Strong Financial Foundation

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4 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 High Performance & Adaptive Computing Leadership Accelerating innovation in silicon architecture, advanced packaging and software Scaling compute engines from cloud to edge to endpoints with leadership performance per watt Delivering a robust software stack and flexibility, transparency and choice to developers Computing partner of choice across AI, data center, embedded, PCs and gaming Leadership Foundational IP Breadth and Depth of Portfolio Open, Proven Software Ecosystem Deep, Collaborative Partnerships

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5 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Large Growth Opportunities Across a Diverse Set of Markets Embedded Industry's broadest portfolio of adaptive and embedded computing platforms Data Center Leadership performance and TCO across cloud, enterprise and AI workloads Client and Gaming Performance, efficiency and AI capabilities for commercial and consumer PC and gaming experiences

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6 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Q3 2025 Revenue Record third quarter revenue of $9.2 billion increased 36% y/y Revenue growth driven by broad based demand across our Data Center AI, Server, and PC businesses $6.8B $9.2B Q3 2024 Q3 2025

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7 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Q3 2025 Gross Margin 1. See Appendices for GAAP to Non-GAAP reconciliation GAAP Non-GAAP 1 50% 52% Q3 2024 Q3 2025 54% 54% Q3 2024 Q3 2025 Flat Y/Y driven by product mix

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8 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Q3 2025 Operating Income GAAP Non-GAAP 1 Increase driven by higher revenue partially offset by higher operating expenses Q3 2024 Q3 2025 $0.7B $1.3B 1. See Appendices for GAAP to Non-GAAP reconciliation $1.7B $2.2B Q3 2024 Q3 2025

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9 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 GAAP EPS up 60% y/y, primarily driven by higher revenue Q3 2025 Diluted Earnings Per Share GAAP Non-GAAP 1 1. See Appendices for GAAP to Non-GAAP reconciliation $0.92 $1.20 Q3 2024 Q3 2025 $0.47 $0.75 Q3 2024 Q3 2025 Record Non-GAAP EPS up 30% y/y, primarily driven by higher revenue

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10 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Q3 2025 Summary P&L \| GAAP $ in millions, except per share data and % Q3'25 1 Q3'24 Y/Y Q2'25 2 Q/Q Revenue $9,246 $6,819 Up 36% $7,685 Up 20% Gross Profit $4,780 $3,419 Up 40% $3,059 Up 56% Gross Margin 52% 50% Up 2 ppts 40% Up 12 ppts Operating Expenses $3,510 $2,695 Up 30% $3,193 Up 10% Operating Expense/Revenue % 38% 40% Down 2 ppts 42% Down 4 ppts Operating Income (Loss) $1,270 $724 Up 75% $(134) Up 1,048% Operating Margin 14% 11% Up 3 ppts (2)% Up 16 ppts Net Income $1,243 $771 Up 61% $872 Up 43% Diluted Earnings Per Share $0.75 $0.47 Up 60% $0.54 Up 39% 1. Third quarter of 2025 results do not include any revenue from shipments of the AMD Instinct MI308 GPU products to China 2. Second quarter of 2025 results included $800 million in inventory and related charges as result of the U.S. Government's export control on our AMD Instinct MI308 data center GPU products.

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11 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Q3 2025 Summary P&L \| NON-GAAP1 $ in millions, except per share data and % Q3'25 2 Q3'24 Y/Y Q2'25 3 Q/Q Revenue $9,246 $6,819 Up 36% $7,685 Up 20% Gross Profit $4,992 $3,657 Up 37% $3,326 Up 50% Gross Margin 54% 54% Flat 43% Up 11 ppts Operating Expenses $2,754 $1,942 Up 42% $2,429 Up 13% Operating Expense/Revenue % 30% 28% Up 2 ppts 32% Down 2 ppts Operating Income $2,238 $1,715 Up 30% $897 Up 149% Operating Margin 24% 25% Down 1 ppt 12% Up 12 ppts Net Income $1,965 $1,504 Up 31% $781 Up 152% Diluted Earnings Per Share $1.20 $0.92 Up 30% $0.48 Up 150% 1. See Appendices for GAAP to Non-GAAP reconciliation 2. Third quarter of 2025 results do not include any revenue from shipments of the AMD Instinct MI308 GPU products to China 3. Second quarter of 2025 results included $800 million in inventory and related charges as result of the U.S. Government's export control on our AMD Instinct MI308 data center GPU products. Excluding these charges, non-GAAP gross margin for the second quarter of 2025 would have been approximately 54%

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12 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Q3 2025 Segment Results $ in millions Q3'25 Q3'24 Y/Y Q2'25 Q/Q Data Center Net Revenue $4,341 $3,549 Up 22% $3,240 Up 34% Operating Income (Loss) $1,074 $1,041 Up 3% $(155) Up 793% Client & Gaming Net Revenue $4,048 $2,343 Up 73% $3,621 Up 12% Operating Income $867 $288 Up 201% $767 Up 13% Embedded Net Revenue $857 $927 Down 8% $824 Up 4% Operating Income $283 $372 Down 24% $275 Up 3%

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13 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 1. See Appendices for GAAP to Non-GAAP reconciliation $ in millions Q3'25 Q2'25 Q/Q Cash, Cash Equivalents and Short-term Investments $7,243 $5,867 Up 23% Accounts Receivable, Net $6,201 $5,115 Up 21% Inventories $7,313 $6,677 Up 10% Total Debt $3,220 $3,218 Flat Q3 2025 Summary Balance Sheet Items Cash from operating activities of continuing operations of $1.8 billion; record free cash flow of $1.5 billion1

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14 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Primarily driven by strong demand for 5th Gen AMD EPYC processors and AMD Instinct MI350 Series GPUs Strategic Highlights Q3 2025 Data Center Segment Revenue $3.5B $4.3B Q3 2024 Q3 2025 29% 25% Q3 2024 Q3 2025 Revenue $4.3 Billion Up 22% y/y Operating Margin Driven by higher revenue, partially offset by higher operating expenses Operating Income $1.1 Billion vs. $1.0 Billion a year ago • AMD announced a strategic partnership with OpenAI to deploy 6-GW of AMD GPUs, with initial 1-GW rollout of AMD Instinct MI450 GPUs in 2H 2026. • AMD unveiled its "Helios" rack-scale design that supports Meta's new Open Rack Wide spec. • OCI announced the first public AI supercluster with the "Helios" rack design featuring AMD Instinct MI450 GPUs, EPYC "Venice" CPUs, and Pensando Vulcano networking with 50,000 GPUs deploying in Q3 2026. • AMD released ROCm 7, boosting training and inference performance, and expanded enterprise infrastructure management and deployment tools. • AMD and the U.S. Department of Energy announced two new next-generation supercomputers with ORNL

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16 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Q3 2025 Embedded Segment Revenue Demand environment strengthened across multiple markets Operating Margin Decline primarily due to lower revenue $857M Q3 2024 Q3 2025 $927M 40% 33% Q3 2024 Q3 2025 Revenue $857 Million Down 8% y/y Operating Income $283 Million vs. $372 Million a year ago Strategic Highlights • Launched AMD Versal RF Series, delivering industry-leading compute performance for aerospace and defense applications • Began shipping Versal Premium Series Gen 2, the first adaptive compute devices supporting next- generation CXL and PCIe connectivity • Launched AMD EPYC Embedded 4005 series processors, delivering performance and extended lifecycles in network security appliances and edge servers. • Introduced AMD Ryzen Embedded 9000 processors with exceptional performance-per-watt and low latency for automation systems and machine vision applications.

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17 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Financial Outlook – NON-GAAP1 1. See Cautionary Statement on Slide 2. These forward-looking outlook statements and non-GAAP measures are based on current expectations as of November 4, 2025, and assumptions and beliefs that involve numerous risks and uncertainties. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law. All items, except revenue, are on a non-GAAP basis. Adjustments to arrive at the GAAP financial outlook typically include stock-based compensation, amortization of acquired intangible assets, income tax provision, and other non-recurring items such as impairment charges and acquisition-related costs. A reconciliation to equivalent GAAP measures is not practicable at this time as the timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD's control. Such events may include unanticipated changes in AMD's GAAP effective tax rate , unanticipated one-time charges related to asset impairments, unanticipated acquisition-related expenses, unanticipated gains, losses, and impairments, and other unanticipated non-recurring items not reflective of ongoing operations. 2. Refer to Diluted Share Count overview in the Appendices. Q4'25 Revenue ~$9.6 Billion, +/- $300 Million Gross Margin ~54.5% Operating Expenses ~$2.8 Billion Interest Expense/Other Income (Expense), net ~$37 Million Effective Tax Rate ~13% of pre-tax income Diluted Share Count2 ~1.65 Billion shares Note: Our current outlook does not include any revenue from AMD Instinct MI308 shipments to China

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18 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Q3 2025 Summary1 1. See Appendices for GAAP to Non-GAAP reconciliation Revenue growth driven by broad based demand across our Data Center AI, Server, and PC businesses Record Revenue $9.2B Up 36% Y/Y Gross Margin 52% Non-GAAP Gross Margin 54% Data Center Segment Revenue $4.3B Up 22% Y/Y Client and Gaming Segment Revenue $4.0B Up 73% Y/Y Diluted EPS $0.75 Non-GAAP Diluted EPS $1.20

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19 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Corporate Responsibility at AMD Environmental Advancing environmental solutions in our products, supply chain and operations, while accelerating energy efficiency for IT users Social Fostering a workplace where all voices are welcomed and valued, partnering with suppliers, and positively impacting our communities Governance Integrating corporate responsibility and governance across product design, supply chain, operations, and external engagement

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20 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Our Momentum Driving Long-term Shareholder Returns Large and Compelling TAM Expanding Data Center and AI Leadership World-Class Execution and Focus Strong Balance Sheet Technology Leadership

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21 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Appendices $ in millions, except % (Unaudited) Q3'25 Q3'24 Q2'25 GAAP gross profit $4,780 $3,419 $3,059 GAAP gross margin 52% 50% 40% Stock-based compensation 7 5 6 Amortization of acquisition-related intangibles 260 233 260 Acquisition-related and other costs (1) - - 1 Inventory loss at (recovery from) contract manufacturer (2) (67) - - Loss contingency on legal matter 12 - - Non-GAAP gross profit $4,992 $3,657 $3,326 Non-GAAP gross margin 54% 54% 43% (1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges. (2) Inventory loss at (recovery from) contract manufacturer is related to losses due to an incident at a third-party contract manufacturing facility in Q1'24 and the corresponding recovery. (3) Effective first quarter of 2025, licensing gain is reclassified against Marketing, general and administrative expenses as the amounts were immaterial. Reconciliation of GAAP to Non-GAAP Gross Profit and Gross Margin $ in millions, except % (Unaudited) Q3'25 Q3'24 Q2'25 GAAP operating expenses (3) $3,510 $2,695 $3,193 GAAP operating expenses/revenue % 38% 40% 42% Stock-based compensation 412 346 363 Amortization of acquisition-related intangibles 302 352 308 Acquisition-related and other costs (1) 42 55 93 Non-GAAP operating expenses (3) $2,754 $1,942 $2,429 Non-GAAP operating expenses/revenue % 30% 28% 32% Reconciliation of GAAP to Non-GAAP Operating Expenses

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22 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Appendices $ in millions, except % (Unaudited) Q3'25 Q3'24 Q2'25 GAAP operating income (loss) $1,270 $724 $(134) GAAP operating margin 14% 11% (2)% Stock-based compensation 419 351 369 Amortization of acquisition-related intangibles 562 585 568 Acquisition-related and other costs (1) 42 55 94 Inventory loss at (recovery from) contract manufacturer (2) (67) - - Loss contingency on legal matter 12 - - Non-GAAP operating income $2,238 $1,715 $897 Non-GAAP operating margin 24% 25% 12% Reconciliation of GAAP Operating Income (Loss) to Non-GAAP Operating Income (1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges. (2) Inventory loss at (recovery from) contract manufacturer is related to losses due to an incident at a third-party contract manufacturing facility in Q1'24 and the corresponding recovery.

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23 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Appendices Reconciliation of GAAP to Non-GAAP Net Income / Diluted Earnings Per Share $ in millions, except per share data (Unaudited) Q3'25 Q3'24 Q2'25 GAAP net income / earnings per share $1,243 $0.75 $771 $0.47 $872 $0.54 Stock-based compensation 419 0.26 351 0.21 369 0.23 Amortization of acquisition-related intangibles 562 0.34 585 0.36 568 0.35 Acquisition-related and other costs (1) 43 0.03 56 0.03 96 0.05 Inventory loss at (recovery from) contract manufacturer (2) (67) (0.04) - - - - Loss contingency on legal matter 12 0.01 - - - - (Gains) losses on equity investments, net (26) (0.02) (1) - (61) (0.04) Equity income in investee (10) - (7) - (8) - Release of reserves for uncertain tax positions (3) - - - - (853) (0.52) Income tax provision (140) (0.09) (251) (0.15) (98) (0.06) Income from discontinued operations, net of tax (4) (71) (0.04) - - (104) (0.07) Non-GAAP net income / earnings per share $1,965 $1.20 $1,504 $0.92 $781 $0.48 (1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges. (2) Inventory loss at (recovery from) contract manufacturer is related to losses due to an incident at a third-party contract manufacturing facility in Q1'24 and the corresponding recovery. (3) Release of reserves for uncertain tax positions pertains to the reasonable cause relief related to dual consolidated losses approved by IRS in Q2'25. (4) Income from discontinued operations is related to ZT Systems' manufacturing business which is classified as held-for-sale.

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24 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Appendices Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow $ in millions, except % (Unaudited) Q3'25 GAAP net cash provided by operating activities of continuing operations $1,788 Operating cash flow margin % from continuing operations 19% Purchases of property and equipment (258) Free cash flow $1,530 Free cash flow margin % 17%

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25 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Appendices Share Count Overview The table above provides actual share count for Q3'25 and an estimate of share count to use when calculating GAAP and non -GAAP diluted earnings per share for Q4'25. (1) Share counts are weighted average shares. (2) The dilutive impact of employee equity grants is based on the Treasury Stock method and is dependent on the average stock price during the period. The Q3'25 average stock price was $161. The estimated dilutive impact of employee equity grants in Q4'25 is based on the average stock price of $213 between September 29, 2025 and October 24, 2025. Shares (millions) (Unaudited) (1) Q3'25 Q4'25 Actual Estimate Basic shares 1,626 1,630 Dilutive impact from employee equity grants (2) 15 17 Diluted shares 1,641 1,647

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26 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025 Appendices $ in millions, except % (Unaudited) Q2'25 GAAP gross profit $3,059 GAAP gross margin 40% Stock-based compensation, amortization of acquisition-related intangibles, acquisition-related and other costs 267 Inventory and related charges associated with U.S. export restrictions 800 Non-GAAP gross profit (as adjusted to exclude inventory and related charges associated with U.S. export restrictions) $4,126 Non-GAAP gross margin (as adjusted to exclude inventory and related charges associated with U.S. export restrictions) 54% Reconciliation of GAAP to Adjusted NON-GAAP Financial Measures

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27 \| \| Q3 2025 FINANCIAL RESULTS – November 4, 2025

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