Intel CEO Lip-Bu Tan holds a wafer of CPU tiles for the Intel Core Ultra series 3, code-named Panther Lake, outside the Intel Ocotillo campus in Chandler, Arizona. Panther Lake is the first client system-on-chips (SoCs) built on the Intel 18A process node.
Intel reported better-than-expected revenue on Thursday, signaling that demand for its core x86 processors for PCs has recovered. The stock jumped 6% in extended trading.
Here's how Intel did in the third quarter versus LSEG consensus estimates:
Revenue : $13.65 versus $13.14 billion estimated
: $13.65 versus $13.14 billion estimated EPS: 23 cents, adjusted, not comparable to analyst estimates
Intel recorded a per-share loss of 37 cents in the quarter to account for shares in escrow that will be released to the U.S. government as part of its $8.9 billion investment. The Trump administration negotiated the investment in August, purchasing 433.3 million shares at $20.47 per share.
The chipmaker said it expects revenue in the fourth quarter of $13.3 billion at the midpoint, with adjusted earnings per share of 8 cents. Analysts expected $13.37 billion in revenue and earnings of 8 cents per share, though those numbers aren't necessarily comparable to Intel's guidance.
Intel said its outlook excludes the impact from a recent sale of its Altera subsidiary.
For the third quarter, Intel reported net income of $4.1 billion, or 90 cents per share, versus a net loss in the year-ago quarter of $16.6 billion. Intel said it received $5.7 billion from the U.S. government during the quarter.
"There is limited precedent for the accounting treatment of such transactions," Intel warned investors in its press release.
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