The article discusses AMD's upcoming Q2 earnings report, expected to release after market close on Tuesday. Wall Street anticipates adjusted earnings of $1.61 per share on revenue of $11.31 billion, with AMD having a track record of exceeding revenue expectations for eight consecutive quarters. In the previous quarter, AMD reported adjusted earnings of $1.37 per share and revenue of $10.25 billion, indicating strong growth. For Q2, they project revenue around $11.2 billion with a gross margin near 56%. Additionally, AMD is expanding its AI hardware offerings, which may contribute to increased demand as evidenced by recent positive market reactions and raised price targets from analysts.

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AMD Q2 Earnings On Deck: What To Expect

Nauman Khan

Mon, August 3, 2026 at 8:06 AM EDT1 min read

This article first appeared on GuruFocus.

Advanced Micro Devices ( NASDAQ:AMD) is set to report second-quarter results after Tuesday's market close, with investors watching whether demand for its data-center chips can support further gains against Nvidia.

Wall Street expects AMD to report adjusted earnings of $1.61 per share on revenue of $11.31 billion. The company has exceeded revenue estimates in each of its past eight quarters and topped earnings expectations in seven.

AMD posted adjusted earnings of $1.37 per share in its latest quarter, above the $1.29 consensus estimate. Revenue rose 37.8% year over year to $10.25 billion, also topping forecasts. For the second quarter, AMD expects revenue of about $11.2 billion, plus or minus $300 million, with a non-GAAP gross margin near 56%.

AMD has also expanded its AI hardware lineup. At its July Advancing AI event, the company introduced Instinct MI400-series accelerators and the Helios rack-scale platform, which combines GPUs and EPYC processors for AI workloads.

AMD shares have gained more than 12% recently following strong Microsoft Azure results. Goldman Sachs and KeyBanc have also raised their price targets, citing AI server demand and hyperscaler spending.