Advanced Micro Devices, Inc. stock research
FY2025 Q3
Advanced Micro Devices (AMD) Gross Margin — Quarter Ended Sep 27, 2025
Revenue increased versus both the prior quarter and the same quarter last year. Gross profit improved relative to both periods, while cost of revenue decreased sequentially but increased year-over-year; gross margin strengthened for both comparisons.
Gross margin takeaway
Quarter ended Sep 27, 2025 · FY2025 Q3
Revenue increased versus both the prior quarter and the same quarter last year. Gross profit improved relative to both periods, while cost of revenue decreased sequentially but increased year-over-year; gross margin strengthened for both comparisons.
- Gross profit rose more strongly than revenue in both comparisons, with cost of revenue declining sequentially, which jointly lifted gross margin.
- Sequentially, gross margin showed a notable improvement. Year-over-year, gross margin was also higher, though the change was more moderate.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
51.7%
Gross profit
$4.8B
Revenue
$9.2B
Cost of revenue
$4.5B
Quarter-over-quarter change
+11.9 pts
Year-over-year change
+1.6 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Dec 28, 2024 | $7.7B | $3.9B | $3.8B | 50.7% |
| Mar 29, 2025 | $7.4B | $3.7B | $3.7B | 50.2% |
| Jun 28, 2025 | $7.7B | $3.1B | $4.6B | 39.8% |
| Sep 27, 2025 | $9.2B | $4.8B | $4.5B | 51.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 28, 2025
+11.9 pts
Year-over-year change
Sep 28, 2024
+1.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit rose more strongly than revenue in both comparisons, with cost of revenue declining sequentially, which jointly lifted gross margin.
Sequentially, gross margin showed a notable improvement. Year-over-year, gross margin was also higher, though the change was more moderate.
Monitor the trend in cost of revenue, which decreased sequentially but remained elevated relative to the year-ago period.