Overview
- Revenue rose 3% to about $13.7 billion and adjusted EPS hit $0.23, topping forecasts and sending shares higher after the release.
- Intel guided Q4 sales to $12.8 billion–$13.8 billion with adjusted EPS of $0.08, with management noting estimates that included spun-off Altera revenue overstated expectations.
- A 10% U.S. government stake ($8.9 billion), SoftBank’s $2 billion and Nvidia’s planned $5 billion have strengthened liquidity, though Intel said Nvidia’s cash was not received by Q3 and is expected to close in Q4.
- Intel Foundry Services posted a $2.3 billion operating loss and still lacks major external customers, with management cautioning 18A yields remain below industry standards until 2027.
- CFO David Zinsner said demand is outpacing supply into 2026; under CEO Lip‑Bu Tan the company cut headcount by over 20%, sold a majority of Altera, repaid $4.3 billion in debt and ended Q3 with roughly $31 billion in cash and short-term investments.