Advanced Micro Devices (AMD) has posted another record quarter, with revenue topping $13 billion and net income reaching $2.4 billion. The company’s chief financial officer and treasurer, Jean Hu, is projecting that this momentum will continue into the next quarter. AMD is forecasting revenue figures of around $17 billion for the fourth quarter of 2026.
This projection sets the stage for a historic milestone. If AMD hits its target, it will represent the first time the company has generated higher revenue figures than Intel for its lifetime. This comparison extends as far back as historical revenue records are available. The gap is significant, with Intel expecting to hit between $15 billion and $16 billion for the same period.
Revenue vs. Profitability
While total revenue is the primary metric for this historic shift, net income tells a different part of the story. It remains unclear whether AMD’s revenue surge will push its net income over the $3 billion mark, where Intel currently sits. The difference of approximately $3 billion in revenue may not directly translate to a proportional increase in net income.
However, profitability is not the defining factor in this comparison. AMD has consistently turned a profit since 2018. There have been periods in recent years where AMD beat Intel on net income, most notably in 2024. During that year, Intel reported a staggering $18.7 billion loss for the year, while AMD made $1.6 billion. AMD beat Intel again in profit stakes last year. Despite a punishing last quarter for Intel regarding its stock price, the company did return to profitability.
A Staggering Turnaround
Total revenue remains a distinct measure of market scale. Intel has remained relatively flat in terms of its own revenue figures, while AMD has surged. Its recent earnings call places AMD at roughly twice what it was reporting just two years ago. For a fabless company to reach its current position, and where it is expected to be by the end of the year, is quite staggering.
This trajectory is particularly notable for observers who watched AMD struggle in the mid-2010s. The turnaround under Dr. Su has been described as little short of miraculous. The contrast between AMD’s growth and Intel’s flat performance highlights a significant shift in the competitive landscape of the semiconductor industry.
Source: PC Gamer
