Intel (INTC) revenue in the third quarter was 16.51 billion USD (+20.9% y/y), while earnings per share (GAAP) fell to 0.60 USD (−33.3% y/y).

Quarterly results#

Earnings per share (GAAP, basic) reached 0.63 USD (−30.0% y/y), while earnings per share (adjusted) increased by 126.1% y/y to 0.52 USD. The company’s operating income was 2.52 billion USD, representing a 269.2% y/y increase compared to 683.00 million USD a year earlier.

Company guidance#

In the fourth quarter of 2026, the company expects revenue in the range of 15.00 billion USD – 16.00 billion USD.

What management says#

Management expressed optimism regarding growth in the data center segment. According to management, the company may not generate positive free cash flows next year, as it views this period as an opportunity to invest in growth. Management indicated that capacity released by the weaker PC market can be allocated to data center wafers, however, substrate availability is also a constraint. According to management, the situation regarding memory availability next year is not optimistic. Management emphasized that external fab customers are expressing interest and are satisfied with the production yields, which the company is working intensively on. According to management, Panther Lake processor margins have clearly improved, although they have not yet reached the company-wide average.