INTC stock: Intel Q3 revenue rises 21% to $16.5 billion

What happened. Intel published its third-quarter 2026 results on 29 October at 4:01 p.m. New York time, one minute after the market closed. Revenue was $16.5 billion, up 21% on last year. Non-GAAP earnings per share were $0.52, against $0.23 a year ago. On a GAAP basis they were $0.60, against $0.90. Cash from operations in the quarter was $5.1 billion.

Against expectations. The day before, Yahoo Finance cited the Bloomberg consensus: earnings per share of $0.40 on revenue of $16.5 billion. Revenue matched, and earnings came in higher. Chief financial officer David Zinsner said revenue, gross margin and earnings per share all beat Intel's own guidance.

Who delivered what. The Data Center and AI unit brought in $7.3 billion, up 78%. Analysts expected about $6.6 billion. Intel Foundry, the contract chip manufacturing arm, brought in $6.7 billion, up 58%, against an expected $6.1 billion. The client unit, which covers PCs, brought in $8.1 billion, down 5%. For PC chips, analysts had expected about $8.8 billion. Non-GAAP gross margin was 44.1%, up 4.1 percentage points on last year.

The outlook. For the fourth quarter Intel expects revenue of $15.0 billion to $16.0 billion and non-GAAP earnings per share of $0.25. Non-GAAP gross margin is guided at 38.0%. Zinsner said he expects the PC slowdown to continue at least through the first half of next year. Chief executive Lip-Bu Tan said his top priority is to unlock more supply of Xeon server processors, calling demand extraordinary.

Before the report. According to Yahoo Finance, Intel shares had fallen more than 20% over the past month, and were down 4% in premarket trading on Thursday. We do not report the market's reaction to the results themselves, because we have no confirmed data at the time of writing. Intel also said it completed a $23 billion public stock offering.

Our take. It was a strong quarter for servers and manufacturing and a weak one for PCs, and the fourth-quarter forecast is below the third-quarter result. This is a report on one company's results. It is not advice to buy or sell any stock.

Hechos confirmados

• Intel's third-quarter 2026 revenue was $16.5 billion, up 21% year over year.^[1]
• Non-GAAP earnings per share were $0.52 against $0.23 a year ago. GAAP earnings per share were $0.60 against $0.90.^[1]
• The Bloomberg consensus was earnings per share of $0.40 on revenue of $16.5 billion.^[2]
• The results were released on 29 October 2026 at 4:01 p.m. New York time.^[1]
• Zinsner said revenue, gross margin and earnings per share exceeded Intel's guidance.^[1]
• Data Center and AI revenue was $7.3 billion (up 78%), Intel Foundry $6.7 billion (up 58%), and the client unit $8.1 billion (down 5%).^[1]
• Analysts expected about $6.6 billion from data center, $6.1 billion from Foundry and $8.8 billion from PC chip sales.^[2]
• Non-GAAP gross margin was 44.1%, up 4.1 percentage points year over year.^[1]
• Cash from operations in the quarter was $5.1 billion.^[1]
• Fourth-quarter guidance: revenue of $15.0 billion to $16.0 billion, non-GAAP earnings per share of $0.25 (GAAP $0.10), and non-GAAP gross margin of 38.0%.^[1]
• Zinsner expects the PC slowdown to continue at least through the first half of next year.^[1]
• Tan named unlocking more Xeon supply as the immediate priority, citing extraordinary demand.^[1]
• Intel completed a $23 billion public equity offering.^[1]
• Intel shares fell more than 20% over the past month and were down 4% in premarket trading on Thursday.^[2]

Implicaciones

• ConfirmadoDemand for data center processors is growing faster than demand for PC processors.
• ConfirmadoBy Intel's own forecast, fourth-quarter revenue will be lower than third-quarter revenue.
• Nuestra lecturaIf supply falls short, growth in server chip revenue will be limited by how many chips Intel can make.

Todavía no se sabe

• How the market will react to the results when trading opens on Friday.
• How fast Intel can raise Xeon supply.
• How long the PC slowdown will last.
• Whether Intel Foundry will land new large outside customers.

A quién afecta

United States, Worldwide. Readers who follow the chip market and tech company earnings

Fuentes

1. Intel Corporation: Intel Reports Third-Quarter 2026 Financial Results 29 de octubre de 2026 · oficial
2. Yahoo Finance: Intel to report Q3 earnings as chip stocks continue to rebound 29 de octubre de 2026 · medios