Intel shares fall 20.3% after hours after Q3 results
Intel reported Q3 2026 revenue of $16.5 billion, up 21% from a year earlier, and non-GAAP EPS of 52 cents, against 23 cents. It forecast Q4 revenue of $15.0 billion to $16.0 billion.
Key takeaways
- Intel Corporation (INTC) reported third-quarter 2026 revenue of $16.5 billion, up 21% from a year earlier, and non-GAAP earnings of 52 cents per share, against 23 cents a year earlier. It forecast fourth-quarter revenue of $15.0 billion to $16.0 billion and non-GAAP EPS of 25 cents. The release was issued Oct. 29.
Intel Corporation (INTC) reported third-quarter 2026 revenue of $16.5 billion, up 21% from a year earlier, and forecast fourth-quarter revenue of $15.0 billion to $16.0 billion, according to a press release furnished in an 8-K filing on Oct. 29.
Shares fell 20.3% in after-hours trading as of 4:10 p.m. ET, from a regular-session close of $92.06.
Here's how the company did:
- Revenue: $16.5 billion vs. $13.7 billion a year earlier
- Non-GAAP EPS: 52 cents vs. 23 cents a year earlier
- GAAP EPS: 60 cents vs. 90 cents a year earlier
GAAP net income attributable to Intel was $3.3 billion, down 18% from $4.1 billion a year earlier. On a non-GAAP basis, net income attributable to Intel was $2.8 billion, up from $1.0 billion.
GAAP gross margin was 43.0%, up from 38.2% a year earlier. Non-GAAP gross margin was 44.1%, up from 40.0%.
The company generated $5.1 billion in cash from operations in the quarter.
Intel CEO Lip-Bu Tan said, “Our Q3 results demonstrate improving execution, meaningful progress expanding supply and continued advancement of our process technology.” He added, “Our immediate priority is to unlock additional supply to meet extraordinary demand for our Xeon family.”
Segment results
Data Center and AI revenue was $7.3 billion, up 78% from a year earlier.
Client Computing and Physical AI Group revenue was $8.1 billion, down 5%.
Intel Foundry revenue was $6.7 billion, up 58%.
Fourth-quarter outlook
The company expects fourth-quarter revenue of $15.0 billion to $16.0 billion. It forecasts GAAP EPS of 10 cents and non-GAAP EPS of 25 cents, with a non-GAAP gross margin of 38.0%.
CFO David Zinsner said, “Looking ahead, we see the PC slowdown continuing at least through the first half of next year.”
Other announcements
The company completed a $23 billion public equity offering. It also announced plans to acquire Classiq, a quantum software company, and appointed Dean Jarnac as executive vice president and chief sales officer.
As of Sept. 26, total Intel employees stood at 81.1 thousand, down from 88.4 thousand on Sept. 27, 2025.
The company’s SEC filings show net income has fallen in each of the last three quarters, from $4.06 billion in the third quarter of 2025 to a loss of $11.03 billion in the second quarter of 2026, according to its SEC filings.