AMD's 2025 revenue rises 34% to $34.64 billion, with Gaming up 51% to $3.91 billion

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.

AMD filed its Form 10-K, the annual report a US-listed company files with the SEC, on Feb 4, 2026 for the year ended Dec 27, 2025, when revenue was $34.64 billion against $25.79 billion a year earlier. Gaming revenue was $3.91 billion against $2.6 billion in 2024, and AMD puts the rise down mainly to higher semi-custom revenue and strong demand for its Radeon gaming GPUs. Gaming sits inside the Client and Gaming segment, whose revenue was $14.55 billion, up 51% from $9.65 billion; AMD names demand for Ryzen processors, semi-custom game console chips and Radeon gaming GPUs as the drivers. The segment's operating income was $2.9 billion against $1.2 billion, and AMD combined the Client and Gaming segments from the first quarter of fiscal 2025 and adjusted earlier periods to match.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13

Operating income, the profit from running the business before interest and tax, was $3.69 billion, up from $1.9 billion. AMD's All Other line had an operating loss of $4.0 billion, mostly $2.3 billion of amortization of acquisition-related intangibles and $1.6 billion of stock-based compensation. Net income was $4.34 billion against $1.64 billion. The income tax line swung from a $381 million provision in 2024 to a $103 million benefit in 2025, a change AMD says was primarily driven by an $853 million benefit from releasing uncertain tax positions after the IRS approved relief in April 2025. Other income, net, was $577 million against $181 million, a rise AMD says came mainly from higher unrealized gains from long-term investments. Diluted earnings per share were $2.65 against $1.00.14^,15^,16^,17^,18^,19^,20^,21^,22^,23

Data Center revenue was $16.64 billion, up 32% from $12.58 billion, which AMD ties to demand for its EPYC processors and Instinct GPU accelerators. For gamers, creators and developers, AMD says it brought Radeon 9000 Series GPUs to market, built on its RDNA 4 graphics architecture. AMD announced the year's results in an earnings release on Feb 3, 2026. Revenue was $23.6 billion in 2022, $22.68 billion in 2023 and $25.79 billion in 2024.24^,25^,26^,27^,28^,29^,30^,31^,32

We hold the 10-K's management discussion but not its notes or other exhibits, and our records cannot tell whether the year-earlier figures were restated.33^,34