MEMPHIS, Tennessee -- The undefeated run for SMU came to an end Saturday night -- but not without a fight.

The bright lights and primetime environment of a road atmosphere didn't fall in the favor of the Mustangs, as Memphis left Liberty Bowl Memorial Stadium with a 54-48 victory in a battle of national top-25 teams. In front of an announced crowd of 59,506 fans, the largest-ever crowd for an American Athletic Conference matchup, SMU suffered its first loss of the season.

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The second half belonged to Memphis (8-1, 4-1 in AAC), as the Tigers scored 31 of their points in the first 21 minutes of the half. Memphis pulled away from SMU (8-1, 4-1) with the help of wide receivers Antonio Gibson and Damonte Coxie, who combined for 13 catches, 273 receiving yards and three touchdowns.

Overall, it wasn't a memorable day for SMU's defense. In addition to giving up 54 points, SMU allowed 516 total yards in the loss. Stud running back Kenneth Gainwell was held to 88 yards and a touchdown on 21 carries, but it was Memphis' passing game that won the game.

That said, SMU refused to give up and did all it could to keep the game close. The Mustangs scored 24 fourth-quarter points to keep the game interesting, but ran out of time as an onside kick with 2:05 remaining didn't fall its way.

Quarterback Shane Buechele threw for 456 yards and three touchdowns and completed 34 of 54 passes with no interceptions. He connected with eight different receivers. The loss blanketed another big performance for SMU wide receiver James Proche, who finished with 13 catches for 149 yards and a touchdown. He had 12 catches for 134 yards and two touchdowns against the Tigers last season.

SMU was without wide receiver Reggie Roberson Jr., who was nursing a foot injury, but Rashee Rice had a monster game in his place. The freshman finished with seven catches for 122 yards.

Additionally, tight end Kylen Granson shouldered the offensive load by catching four passes for 77 yards and two touchdowns. Collectively, Proche, Rice and Granson were targeted 37 times.

SMU jumped on the board first with 5:49 in the opening quarter -- and did so after starting at the 3-yard line. The Mustangs capped a 12-play, 97-yard drive with a 16-yard pass play from Buechele to Granson.

But Memphis answered on the next series as Gainwell scored on a 14-yard touchdown run with 3:34 in the first. The Tigers then took a 10-7 lead with 13:38 in the second on a 30-yard field goal by Riley Patterson.

SMU regained the lead at the 11:30 mark of the second, as Xavier Jones capped a seven-play drive with a 2-yard touchdown run. But from there, Memphis outscored SMU, 13-3, in the rest of the half. The Tigers went into the locker room with a 23-17 halftime lead and never again trailed.

Memphis extended its lead on the opening kickoff of the second half. Gibson found a hole and raced 97 yards for a touchdown, giving Memphis a 30-17 advantage.