How Intel Corporation (NASDAQ: INTC) is actually performing, quarter by quarter: revenue by business, margins, earnings per share and cash. Every figure is taken from Intel’s earnings releases and calls, and the page is updated after each report.
Q3 2026 vs. a year earlier
- Revenue: $16.5B, up 21% from $13.7B
- Data Center and AI: $7.3B, up 78%
- Intel Foundry: $6.7B, up 58%
- Non-GAAP gross margin: 44.1%, up from 40.0%
- Non-GAAP operating margin: 19.6%, up from 11.2%
- Non-GAAP EPS: $0.52, up from $0.23
Intel (INTC) results, quarter by quarter
| $ billions | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 |
|---|---|---|---|---|---|
| Total revenue | 13.7 | 13.7 | 13.6 | 16.1 | 16.5 |
| Client (CCG / CCPG) | 8.5 | 8.2 | 7.7 | 8.9 | 8.1 |
| Data Center and AI (DCAI) | 4.1 | 4.7 | 5.1 | 6.3 | 7.3 |
| Intel Foundry | 4.2 | 4.5 | 5.4 | 5.8 | 6.7 |
| Non-GAAP gross margin | 40.0% | 37.9% | 41.0% | 41.8% | 44.1% |
| Non-GAAP EPS | $0.23 | $0.15 | $0.29 | $0.42 | $0.52 |
| Operating cash flow | 2.5 | 4.3 | 1.1 | 7.0 | 5.1 |
| Gross capital expenditures | 3.0 | 4.0 | 3.5 | 2.7 | 4.2 |
| Adjusted free cash flow | 0.9 | 2.2 | –2.0 | –8.4* | 1.6 |
What the numbers show
- Data centre is the engine. DCAI revenue went from $4.1B to $7.3B in four quarters, as AI servers created demand for CPUs to run alongside accelerators. It is now close to client in size.
- Foundry is growing on internal demand. Intel Foundry revenue rose 58% in a year, driven by Intel 3 and 18A wafers for Intel’s own products. External foundry revenue is still small, at $411M in Q3 2026, and that quarter included a one-off program.
- Client is the soft spot. PC revenue fell 9% from Q2 to Q3 2026 and is down 5% year on year, as rising memory prices hit PC demand.
- Margins and earnings have more than doubled. Non-GAAP operating margin went from 11.2% to 19.6%, and EPS from $0.23 to $0.52.
- Cash is the constraint. Capital spending of about $20B this year, rising strongly in 2027, absorbs most of the operating cash. Intel calls 2027 an investment year, not a free-cash-flow year.
A note on GAAP. On a GAAP basis, Q3 2026 EPS was $0.60 against $0.90 a year earlier. The year-ago figure was lifted by one-off items, including gains linked to the Altera sale in September 2025, which is why this page tracks the non-GAAP figures Intel guides to. Guidance against these results is on the Guidance vs. Execution page.
Sources: Intel Q3 2026 earnings release (Q3 2025 comparatives, segment revenue, cash-flow reconciliation); Intel earnings calls for Q4 2025, Q1 2026, Q2 2026 and Q3 2026. Next update after Intel’s Q4 2026 report, expected around January 28, 2027.
