AMD has just posted another record quarter, with revenue topping $13 billion and its net income sitting at $2.4 billion. That is a lot of billions, and my brain is slightly struggling to comprehend it. But AMD’s CFO and treasurer, Jean Hu, is projecting that this success will continue into the next quarter, predicting revenue figures of around $17 billion for Q4. Let’s just compare that to Intel, which is expecting to continue posting flat, or slightly down, revenue figures of $15 – $16 billion itself.
Such a result would represent the first time that AMD has actually generated higher revenue figures than Intel for its lifetime. Or as far back as I can find the actual revenue figures for anyways.
Whether that will necessarily translate into a higher net income figure for AMD, I’m not entirely sure. Maths is not my strong point, and whether AMD’s total revenue going up by another $3 billion will push its net income over the $3 billion mark where Intel currently sits I’m not sure. But it’s going to be mighty close for sure.
But net income is not really the significant thing in terms of making history; AMD has been consistently turning a profit since 2018, and in the years up to now there have definitely been times when it has beaten Intel on that score, most notably in 2024 where Intel reported a staggering $18.7 billion loss for the year. AMD made $1.6 billion in that same timeframe. And last year AMD beat Intel again in the profit stakes.
Despite it being a punishing last quarter for Intel in terms of its stock price collapsing, the company did at least return to profitability.
(Image credit: Future)
Check out the data 👇
Intel vs. AMD quarterly revenue and profit
Quarter
Intel Revenue ($M)
Intel Net Income ($M)
AMD Revenue ($M)
AMD Net Income ($M)
Q1 2021
19,673
3,360
3,445
555
Q2 2021
19,631
5,060
3,850
710
Q3 2021
19,192
6,823
4,313
923
Q4 2021
20,528
4,623
4,826
974
Q1 2022
18,353
8,113
5,887
786
Q2 2022
15,321
−454
6,550
447
Q3 2022
15,338
1,019
5,565
66
Q4 2022
14,042
−664
5,599
21
Q1 2023
11,715
−2,758
5,353
−139
Q2 2023
12,949
1,481
5,359
27
Q3 2023
14,158
297
5,800
299
Q4 2023
15,406
2,669
6,168
667
Q1 2024
12,724
−381
5,473
123
Q2 2024
12,833
−1,610
5,835
265
Q3 2024
13,284
−16,639
6,819
771
Q4 2024
14,260
−126
7,658
482
Q1 2025
12,667
−821
7,438
709
Q2 2025
12,859
−2,918
7,685
872
Q3 2025
13,653
4,063
9,246
1,243
Q4 2025
13,674
−591
10,270
1,511
Q1 2026
13,577
−3,728
10,253
1,383
Q2 2026
16,128
−11,033
11,536
2,297
Q3 2026
16,513
3,320
13,377
2,428
But total revenue is still something else entirely. Intel has remained relatively flat in terms of its own revenue figures, while AMD has surged on the inside. Its recent earnings call puts AMD at roughly twice what it was reporting just two years ago.
For the fabless company to be where it is, and where it’s expected to be by the end of the year, is quite staggering. Especially for any of us who watched AMD flailing around in the mid-2010s. You’ve got to hand it to Dr. Su, the turnaround for AMD has been little short of miraculous.
