Intel falls after an earnings beat as its PC slowdown clouds the next-quarter outlook
Earnings results
- EPS beat +33.3%
Adjusted: $0.52 · Consensus: $0.39
- Revenue beat +0.4%
Actual: $16.513B · Consensus: $16.44B
- Guidance below consensus
Q4 sales: $15–$16B vs. $16.8B · Adjusted EPS: $0.25 vs. $0.42
Earnings and the stock move
Intel’s newly issued fourth-quarter outlook falls short of dated sales and adjusted earnings expectations despite a third-quarter beat. The company expects PC weakness to persist through at least the first half of next year, while server growth remains constrained by available supply. Its forecast of lower gross margin means strong demand alone may not translate into a near-term profit improvement.
Q3 2026 ended September 26 earnings recap
Intel fell 20.6% after hours on October 29 despite beating quarterly earnings forecasts. Its next-quarter outlook fell below expectations as management warned that weak PC demand could persist into next year.
- Adjusted earnings per share, or profit per share, were $0.52 versus the $0.39 forecast, a 33.3% beat. GAAP earnings were $0.6 per share.
- Revenue rose 21% to $16.51 billion, slightly above the $16.44 billion forecast. The modest sales beat left the outlook as the bigger investor decision.
- Intel issued a fourth-quarter sales range of $15–$16 billion versus the $16.8 billion forecast. Its adjusted profit forecast of $0.25 per share also trails the $0.42 estimate.
- Management expects the PC slowdown to continue through at least the first half of next year. PC-related sales fell 5%, limiting the benefit from stronger server demand.
- Data Center and AI sales rose 78% to $7.3 billion, but Intel still needs more supply for its Xeon processors. Demand can support growth only when production turns it into shipments.
- The fourth-quarter adjusted gross margin outlook is 38%, down from 44.1% in this quarter. That means less of each sales dollar would remain after production costs.
Watch whether Intel can expand server supply while protecting margins as PCs weaken. The October 29 charts show the regular close before results; the next regular session will test the sharp after-close decline.
Financials and technicals
Charts through Oct 29, 2026. The session move above may reflect later news.
Technical setup and risks
The completed October 29 charts precede the earnings decline. Recovering lost ground in regular trading would improve the initial reaction; further selling would extend the risk. Closing prices and volume can help assess whether the new outlook changes investor demand.
After-hours move is measured versus the same-day regular close AI-assisted research with source and calculation checks. Prices may be delayed. Technical charts use the stated completed session, which can precede the quoted intraday move. Educational information; investing involves risk.