Intel Q3 2026 earnings: $16.5 billion revenue, data center up 78%

Intel reported third-quarter 2026 revenue of $16.5 billion, up 21% from $13.7 billion a year earlier. CFO David Zinsner said revenue, gross margin and earnings per share all exceeded guidance.

Earnings. GAAP earnings per share were $0.60, down from $0.90, and non-GAAP EPS was $0.52, up from $0.23. GAAP net income attributable to Intel was $3.3 billion, down 18%. GAAP gross margin was 43.0% and non-GAAP gross margin was 44.1%. Intel generated $5.1 billion in cash from operations.

Data center and foundry. Data Center and AI revenue rose 78% to $7.3 billion, which Zinsner called the strongest data center growth in 15 years. Intel Foundry revenue rose 58% to $6.7 billion. Client Computing and Physical AI Group revenue fell 5% to $8.1 billion.

CEO Lip-Bu Tan said CPU demand remains robust despite near-term PC headwinds, and that the immediate priority is adding supply to meet demand for Xeon. Zinsner said Intel expects the PC slowdown to continue at least through the first half of next year.

Other news. Intel said it completed a $23 billion public equity offering and announced plans to acquire quantum software company Classiq and a multiyear collaboration with Oracle on Xeon-based Oracle Cloud Infrastructure.

Guidance. For the fourth quarter, Intel expects revenue of $15.0 billion to $16.0 billion, GAAP EPS of $0.10 and non-GAAP EPS of $0.25, with gross margin of 37.1% GAAP and 38.0% non-GAAP. Intel's webcast is at 2:00 PM PT.