AMD reported Q2 2026 revenue of $11.54 billion, beating analyst consensus of roughly $11.3 billion. Adjusted earnings per share came in at $1.66, above the expected $1.62. Data center revenue grew 107% year-over-year to approximately $6.72 billion. Despite these record results, the stock fell roughly 8% after hours due to capital expenditures of $808 million, nearly three times analyst expectations, and free cash flow below models. For Q3 2026, AMD projected revenue of approximately $13 billion.
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