Reported results
- Revenue of $29.6 billion for Q3, up 86% from prior year period
- GAAP operating income of $16.0 billion for Q3; Non-GAAP operating income of $20.1 billion for Q3
- GAAP diluted EPS of $2.68 for Q3; Non-GAAP diluted EPS of $3.32 for Q3
- Free cash flow of $13.7 billion for Q3 (46% of revenue), calculated as cash from operations of $14.2 billion less capital expenditures of $0.5 billion
- Q3 AI semiconductor revenue of $16.7 billion, up 221% year-over-year and 54% quarter-over-quarter
- Quarterly common stock dividend of $0.65 per share approved by Board of Directors
Guidance
- Q4 FY2026 revenue guidance of approximately $34.8 billion, up 93% from prior year period
- Q4 FY2026 non-GAAP operating income guidance of approximately 66% of projected revenue
- Q4 AI semiconductor revenue expected to reach $21.7 billion, up 236% year-over-year
Notes
Company states it is not readily able to provide a reconciliation of projected non-GAAP financial measures to relevant GAAP measures without unreasonable effort.
Price and volatility reaction
The stock moved -2.7% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -12.7 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 367.24 | 2026-09-02 |
| Close after release | 357.16 | 2026-09-03 |
| Realised move | -2.7% | close to close |
| 30d ATM IV change | -12.7 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-09-02 (8-K, Item 2.02). Read the original filing on sec.gov.