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Earnings Updated
Results
Adj EPS Beat 0.38 vs 0.21 est
Revenue Beat USD 16.1B vs USD 14.42B est
Q3 guidance
Revenue USD 15.8B-16.8B vs USD 15.06B est
Free cash flow USD 8.42B
Gross margin 41.8%
Key read

CFO comments

  • Plans to raise 2026 capex to 20bln (prev. 18bln).
  • Plans for capex to be up meaningfully in 2027.
  • Signed long-term agreements with customers to supply CPUs and XPUs.
  • Long-term chip supply agreements range from 3-5 years, with some including both volume and price commitments.
  • 14A is ahead of where older technologies were at the sam point in the cycle.

Outlook

  • Q3 revenue 15.8bln-16.8bln (exp. 15.06bln).
  • Q3 adj. gross margin 42% (exp. 40.2%).
  • Q3 adj. EPS 0.38 (exp. 0.27).