Intel (INTC) reported net income attributable to the company of $3.3 billion in the third quarter of 2026 (ended September 26), down 18% from the same period a year earlier. Revenue totaled $16.5 billion, up 21% from 3Q25. Diluted earnings per share (EPS) was $0.60, compared with $0.90 in 3Q25.
On an adjusted basis (non-GAAP, which excludes items the company considers non-recurring), net income was $2.8 billion, up 169%, and adjusted EPS came in at $0.52, compared with $0.23 a year earlier. GAAP gross margin was 43.0% (38.2% in 3Q25), and GAAP operating margin was 15.3% (5.0%). Operating cash flow was $5.1 billion, and adjusted free cash flow was $1.6 billion.
By segment, Data Center and AI (DCAI) revenue rose 78% to $7.3 billion. Client Computing and Physical AI Group (CCPG) revenue fell 5% to $8.1 billion. Intel Foundry had revenue of $6.7 billion, up 58%. Intel Foundry recorded an operating loss of $1.9 billion in the quarter.
During the quarter, the company completed a $23 billion stock offering and announced plans to acquire Classiq, a quantum computing software company. CEO Lip-Bu Tan said the immediate priority is to "unlock additional supply to meet extraordinary demand" for the Xeon family. CFO David Zinsner said the company sees the slowdown in the PC market "continuing through at least the first half of next year."
For 4Q26, Intel projects revenue of $15 billion to $16 billion and EPS of $0.10, with adjusted EPS of $0.25. Projected gross margin is about 37.1% (GAAP) and 38.0% (adjusted).
