Intel beats Q3 revenue estimates but warns of PC slowdown
Intel's third-quarter revenue rose 21 percent to $16.51 billion, but the company forecast weaker fourth-quarter results as global PC shipments continue to decline.
KEY POINTS
- Intel Q3 2026 revenue reached $16.51 billion, up 21 percent year over year
- Data center and AI revenue rose 78 percent to $7.3 billion
- Client computing and physical AI revenue fell 5 percent to $8.1 billion
- Net income dropped 18 percent to $3.32 billion
- Intel forecasts Q4 revenue of $15 billion to $16 billion
Intel reported third-quarter revenue of $16.51 billion for 2026, a 21 percent increase from the same period last year. The result slightly exceeded analyst expectations, as did adjusted earnings per share of $0.52.
The data center and artificial intelligence division drove growth, with revenue jumping 78 percent annually to $7.3 billion. The increase reflects demand for computing capacity to run artificial intelligence applications.
“We see the PC slowdown continuing at least through the first half of next year, but we remain optimistic about opportunities in our broader portfolio.”
By contrast, the client computing and physical AI division posted revenue of $8.1 billion, down 5 percent from the third quarter of 2025. The result fell short of estimates, reflecting difficulties in the global PC market.
Intel forecast fourth-quarter adjusted earnings of $0.25 per share and revenue between $15 billion and $16 billion. Analysts had projected $0.25 per share and $17.29 billion in revenue, according to FactSet.
The company also reported net income of $3.32 billion for the quarter, an 18 percent decline from the same period in 2025. Chief Financial Officer David Zinsner said Intel expects the PC slowdown to continue at least through the first half of next year.
Global PC shipments fell 4 percent in the second quarter compared with the prior year, partly because of rising costs. Intel shares fell 19.83 percent to $73.81 in after-hours trading.
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