EARNINGS & CATALYSTS · October 22, 2026
Intel (INTC) Earnings October 29, 2026: CPU Demand, Foundry Spending and Guidance
Intel reports October 29 after the close. Review estimates, CPU demand, manufacturing execution, GAAP versus adjusted earnings, past surprises and recent semiconductor peer results.
| Company | Report date | Window | EPS estimate | Revenue estimate |
|---|---|---|---|---|
| Intel Corp. (INTC) | October 29, 2026Issuer confirmed | After close | 0.40 | 16.5B |
1) When will Intel report Q3 earnings?
Intel’s October 6 announcement confirms results promptly after the market closes on Thursday, October 29, 2026. The earnings conference call begins at 2:00 PM Pacific, equivalent to 5:00 PM Eastern. Both the reporting date and after-close window are company-confirmed. The technical charts use the completed October 22 regular session and do not include the forthcoming earnings response.
2) What are the dated earnings expectations?
The earnings-calendar snapshot updated October 22, 2026 at 12:35 PM Eastern lists $0.4021 in estimated EPS and $16.50142 billion in estimated revenue. The feed does not define the EPS accounting basis. Intel’s own July guidance is a separate benchmark: $15.8–16.8 billion in Q3 revenue, $0.31 in GAAP diluted EPS and $0.38 in non-GAAP diluted EPS, with the EPS forecasts based on the revenue midpoint. Its corresponding gross-margin outlook was 41% GAAP and 42% non-GAAP.
3) How did the last two reports compare with estimates?
Intel reported Q1 revenue of $13.577 billion against dated rounded consensus of $12.39 billion, about a 9.6% surprise. Non-GAAP EPS of $0.29 exceeded the $0.01 estimate by $0.28; the resulting 2,800% percentage reflects a near-zero starting estimate rather than a comparable growth rate. Q2 revenue of $16.128 billion exceeded $14.43 billion by about 11.8%, and non-GAAP EPS of $0.42 doubled the $0.21 estimate. GAAP losses per share were $0.73 and $2.16, respectively. These consensus comparisons use adjusted earnings, rather than treating those GAAP losses as equivalent measures.
4) Why do GAAP earnings and non-GAAP results differ?
Intel’s reconciliations exclude specified acquisition, restructuring, investment and other items from non-GAAP measures. In Q2, a large non-operating fair-value change in escrowed shares tied to the US government agreement contributed to the difference between the GAAP loss and adjusted profit. Such accounting movements are distinct from chip sales and factory operating performance, while their economic context still matters. Investors should examine operating cash flow, capital spending and the reconciliation alongside EPS. The price-reaction graphic uses release-day regular close through the next trading close, capturing observed changes without assigning them to one earnings item.
5) How the business makes money
Intel sells processors and related computing platforms for PCs, servers and other applications, and operates semiconductor development, manufacturing and packaging activities through Intel Foundry. In 2025, Intel Products revenue was $49.147 billion, Foundry revenue was $17.826 billion and all other revenue was $3.563 billion. Eliminations of $17.683 billion reduce these business-unit amounts to consolidated revenue of $52.853 billion. Foundry revenue includes internal transactions, so adding the unit figures without eliminations would overstate sales. Altera was deconsolidated in September 2025, affecting year-over-year comparisons.
6) What to watch
Key questions include whether processor supply is catching up with demand, whether data center momentum persists and how manufacturing yields and cycle times affect available output. The report can update product and foundry execution, advanced packaging, gross margins and the spending required to support future capacity. An updated Q4 outlook would provide a new forward benchmark. External foundry commitments should be distinguished from internal manufacturing activity and from unconfirmed customer speculation.
7) Recently reported peers
Texas Instruments reported October 21 revenue of $6.055 billion and GAAP diluted EPS of $2.62 against dated rounded consensus of $5.94 billion and $2.40. Those imply surprises of about 1.9% and 9.2%. TI issued Q4 guidance for $5.80–6.30 billion in revenue and $2.45–2.79 in EPS. It described broad growth across industrial, automotive and data center demand. TI’s analog and embedded products differ from Intel’s processor and foundry mix, so the report offers cycle context rather than a forecast for Intel. The graphic measures the October 21 regular close through the October 22 regular close, a completed window after its after-close release.
8) Risks into the report
Risks include manufacturing delays, yield and cost problems, competitive pressure in processors, swings in customer demand, large capital requirements and uncertain external foundry adoption. Government-related agreements, minority interests, portfolio changes and non-cash revaluations complicate headline earnings. Revenue growth can coexist with weak free cash flow when investment is high. GAAP losses make a trailing P/E uninformative; adjusted profit alone does not establish the value of the manufacturing strategy.