Intel Q3 2026 Earnings: It Beat Expectations, So Why Did the Stock Fall 23% After Hours?

Intel's third quarter of 2026 beat Wall Street's forecasts: adjusted earnings of 52 cents a share against the 40 cents analysts expected (LSEG), on revenue of $16.5 billion, up 21%. Data center revenue grew 78% in a year while PC chip revenue fell 5% (Intel). Then came the forecast: Intel expects fourth-quarter revenue of $15 to $16 billion, against about $17.07 billion expected, and adjusted earnings of 25 cents against 43. Intel says an accident that shut its Israel factory for about two weeks takes roughly $300 million off fourth-quarter revenue. The shares fell about 23% in after-hours trading on October 29; Reuters tied the drop to the guidance.

Results are for the quarter ended September 26, 2026, as reported by Intel on October 29, 2026. Earnings per share are non-GAAP (adjusted). Intel's July forecast for the quarter was adjusted earnings of 38 cents on revenue of $15.8 to $16.8 billion. Analyst estimates are LSEG's, as reported by Reuters. The share move compares the last after-hours trade at 8:00 pm ET on October 29 ($70.86) with the 4:00 pm close ($92.07), Nasdaq data. Fourth-quarter 2025 revenue is computed from Intel's annual report.