The company also projects adjusted gross margin of about 56%.
AMD exceeded the high end of its revenue guidance in both the first and second quarters. Export controls on certain data-center GPUs.
Data Center revenue accounted for 58% of second-quarter sales and reached $6. 7 billion, up 107% from a year earlier. AMD’s management expects strong double-digit sequential growth in the segment during the third quarter, although the year-over-year comparison will be more demanding because the segment generated $4. 3 billion in the comparable quarter last year.
Jean Hu said the expected data-center acceleration refers to the second half of 2026 compared with the first half, rather than to each quarter sequentially.
Lisa Su said the product would begin ramping in the third quarter, step up in the fourth quarter and increase further in the first quarter of 2027. That makes the fourth-quarter outlook issued with the Nov. 3 results a key indication of whether the ramp is progressing on the timetable AMD has described.
AMD shares trade at about 34 times average expected 2027 earnings, down from roughly 41 times at the October record close. That valuation still reflects expectations for Helios to scale as planned. A smaller-than-anticipated fourth-quarter step-up could weigh on the stock even if third-quarter revenue reaches or exceeds the current range. Shares have moved at least 7% the day after each of the past three earnings reports, underscoring the potential for a sharp reaction to the next update.