AMD’s third-quarter 2025 revenue rose 36% to $9.25 billion, with Gaming revenue up 181%

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

In its 10-Q, the quarterly report a listed US company files with the Securities and Exchange Commission, filed on Nov 5, 2025, AMD reported revenue of $9.25 billion for the quarter that ended Sep 27, 2025, up 36% from a year earlier. Operating income, the profit from running the business before interest and tax, was $1.27 billion, against $724 million a year earlier. Net income was $1.24 billion, against $771 million; AMD said the increase was primarily driven by higher operating income. That net income counts $71 million from discontinued operations, which AMD said includes the results of the ZT Systems manufacturing business.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11

Gaming revenue was $1.3 billion, up 181% from $462 million in the same quarter a year earlier. AMD’s earnings release attributed the rise to higher semi-custom revenue and strong demand for Radeon gaming GPUs, and the 10-Q listed semi-custom game console SoCs among the drivers of its Client and Gaming segment. Client revenue was $2.75 billion, up 46%, which the release tied to record sales of Ryzen processors and a richer product mix. Data Center revenue was $4.34 billion, up 22%. The earnings slides listed the ROG Xbox Ally and ROG Xbox Ally X, powered by AMD Ryzen Z2 processors, going on sale worldwide, and said games supporting AMD’s FSR 4 upscaling technology doubled since launch to over 85.12^,13^,14^,15^,16^,17^,18^,19^,20^,21^,22^,23

The 10-Q also reported that on Oct 5, 2025 AMD issued OpenAI OpCo, LLC a warrant to purchase up to 160 million shares of its common stock at an exercise price of $0.01 a share. The warrant shares were to vest in tranches tied to GPU purchase milestones and stock price targets. On Oct 27, 2025 AMD completed the sale of the ZT Systems manufacturing business to Sanmina Corporation for 1,151,052 Sanmina shares and $2.4 billion in cash at closing, subject to price adjustments. AMD recorded no MI308 China-based customer revenue in the quarter, although it said the US government had granted it some licenses to ship MI308 products to certain China-based customers.24^,25^,26^,27^,28

AMD’s earnings release also gave non-GAAP measures, figures outside US accounting rules that the company defines itself, which left out items such as stock-based compensation and the amortization of acquisition-related intangibles. On that basis operating income was $2.2 billion and net income $2 billion, AMD’s own measures rather than the GAAP figures above.29^,30

Of this filing, our records hold the text of its management discussion; the notes to its financial statements and its other exhibits are not in our records. Our records also keep one value for each period of an SEC filer, so they cannot tell whether the year-earlier figures were restated.31^,32