Intel — 2026Q3 earnings
reported 2026-07-23
EPS $0.42 vs $0.22 est — beat
next session -7.9% (close 2026-07-23 → 2026-07-24)
Source
8-K filing ↗Summary
Revenue of $16.1 billion grew 25% — what the company called its strongest growth in more than fifteen years — powered by Data Center and AI up 59% and Intel Foundry up 31%, though the GAAP lens still showed an $11.0 billion net loss ($(2.16) per share) against positive non-GAAP EPS of $0.42 and strong operating cash generation of $7.0 billion. Guidance calls for $15.8-16.8 billion of revenue with positive EPS on both bases, alongside stepped-up capacity investment including a €5 billion manufacturing expansion. The call's through-line was demand outpacing supply: Lip-Bu Tan said 18A output rose meaningfully with yields tracking ahead of expectations, and Dave Zinsner noted AI-driven businesses grew more than 70% and now contribute roughly 70% of revenue.
Earnings call
Earnings call webcast ↗Review
From the report
Intel's July 23, 2026 release (its fiscal Q2 2026) showed revenue of $16.1 billion, up 25% year-over-year — which the company called its strongest revenue growth in more than fifteen years — powered by Data Center and AI up 59% and Intel Foundry up 31%. GAAP results remained deeply negative (net loss attributable to Intel of $11.0 billion, or $(2.16) per share) while non-GAAP EPS turned positive at $0.42, and the company generated $7.0 billion of operating cash. Guidance for the following quarter was $15.8–16.8 billion of revenue with positive EPS on both GAAP and non-GAAP bases, alongside stepped-up capacity investment including a €5 billion manufacturing expansion.
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Revenue was $16.1 billion, up 25% year-over-year — a sharp acceleration for Intel. show quote
“Second-quarter revenue was $16.1 billion, up 25% year-over-year (YoY).”
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Profitability diverged sharply by lens: a GAAP loss per share of $(2.16) against positive non-GAAP EPS of $0.42. show quote
“Second-quarter earnings (loss) per share (EPS) attributable to Intel was $(2.16); non-GAAP EPS attributable to Intel was $0.42.”
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Guidance for the next quarter: revenue of $15.8 billion to $16.8 billion with positive EPS on both bases — GAAP $0.31 and non-GAAP $0.38. show quote
“Forecasting third-quarter 2026 revenue of $15.8 billion to $16.8 billion; expecting third-quarter EPS attributable to Intel of $0.31 and non-GAAP EPS attributable to Intel of $0.38.”
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Cash generation was strong: $7.0 billion of cash from operations in the quarter. show quote
“In the second quarter, the company generated $7.0 billion in cash from operations.”
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CEO Lip-Bu Tan framed the quarter as Intel's strongest revenue growth in more than fifteen years, attributing it to AI-driven compute demand across CPUs, ASICs, advanced packaging and the foundry network. show quote
““AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network,” said Lip-Bu Tan, Intel CEO. “Our Q2 results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus.””
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From the call
Intel's prepared remarks centered on demand outpacing supply: Lip-Bu Tan reported the strongest revenue growth in more than fifteen years with 18A yields tracking ahead of expectations, and Dave Zinsner said AI-driven businesses grew more than 70 percent year over year and now contribute roughly 70 percent of revenue.
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CEO Lip-Bu Tan framed demand as outpacing supply, with the strongest revenue growth in more than fifteen years. show quote
“Our core message is simple: strong demand for our products continues to outpace our growing supply, our design and manufacturing execution is improving, and the operating discipline we put in place fifteen months ago is beginning to show tangible results. Today, we are seeing the strongest revenue growth in more than fifteen years.”
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Tan said 18A output increased meaningfully with yields tracking ahead of expectations. show quote
“18A output increased meaningfully in the quarter; yields continue to track ahead of expectations.”
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CFO Dave Zinsner said AI-driven businesses grew more than 70 percent year over year and contributed roughly 70 percent of revenue. show quote
“And collectively, our AI-driven businesses grew greater than 70 percent year over year, including record datacenter growth, and contributed approximately 70 percent of revenue.”
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as of 2026-08-10