Intel Q3 2026 earnings: GAAP net income falls 18%
Intel’s fourth-quarter outlook calls for $15.0 billion to $16.0 billion in revenue, with diluted EPS estimates of $0.10 GAAP and $0.25 non-GAAP.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Intel Corporation (INTC) reported third-quarter 2026 revenue of $16.5 billion, up 21% year over year. GAAP net income attributable to Intel was $3.32 billion, down 18%, and diluted EPS was $0.60, down 33%. Non-GAAP net income attributable to Intel was $2.756 billion, up 169%, and non-GAAP diluted EPS was $0.52, up 126%. GAAP gross margin was 43.0%, compared with 38.2% a year earlier; non-GAAP gross margin was 44.1%, versus 40.0%. Intel generated $5.1 billion in cash from operations during the quarter.
Data Center and AI revenue was $7.3 billion, up 78% year over year, and Intel Foundry revenue was $6.7 billion, up 58%; Client Computing and Physical AI Group revenue was $8.1 billion, down 5%. Intel completed a $23 billion public equity offering and announced plans to acquire Classiq.
For Q4 2026, Intel forecast revenue of $15.0 billion to $16.0 billion, GAAP diluted EPS of $0.10 and non-GAAP diluted EPS of $0.25. GAAP and non-GAAP gross margin outlooks were 37.1% and 38.0%, respectively.
2 points · 0 major0 major · 1 point
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointRevenue rose 21% year over year to $16.5 billion.
- Moderate pointNon-GAAP diluted EPS increased 126% to $0.52.
Negative
- Moderate pointGAAP diluted EPS fell 33% to $0.60; net income fell 18%.
Filing Explained
Intel reports that its completed $23 billion public equity offering produced $22,617 million in net proceeds; reported shares outstanding were 5,310 million on September 26, 2026, versus 4,994 million on December 27, 2025, and a higher share count reduces existing holders’ percentage ownership absent offsets.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Revenue: $16.5 billion
GAAP net income attributable to Intel: $3.32 billion
GAAP diluted EPS: $0.60
+5 more
8 metrics
Revenue
$16.5 billion
Third quarter 2026; up 21% year over year
GAAP net income attributable to Intel
$3.32 billion
Third quarter 2026; down 18% year over year
GAAP diluted EPS
$0.60
Third quarter 2026; down 33% year over year
Non-GAAP net income attributable to Intel
$2.756 billion
Third quarter 2026; up 169% year over year
Non-GAAP diluted EPS
$0.52
Third quarter 2026; up 126% year over year
Cash from operations
$5.1 billion
Third quarter 2026
Q4 revenue outlook
$15.0 billion to $16.0 billion
Fourth quarter 2026
Public equity offering
$23 billion
Completed during the third quarter 2026
Key Terms
non-GAAP financial measures, Intersegment eliminations, Escrowed Shares, Adjusted free cash flow
4 terms
non-GAAP financial measures financial
"non-GAAP financial measures provide investors with useful supplemental information"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Intersegment eliminations financial
"Intersegment eliminations"
Intersegment eliminations are accounting adjustments made when a company removes sales, costs, or balances that occurred between its own business units before reporting consolidated financials. Like crossing out double-counted items on a combined shopping list, these eliminations prevent internal transfers from inflating total revenue or profit, so investors see the company’s results from outside customers rather than transactions that just moved money between divisions.
Adjusted free cash flow financial
"a non-GAAP financial measure of adjusted free cash flow"
Adjusted free cash flow is the amount of money a company generates from its operations after accounting for essential expenses and investments, like maintaining or upgrading equipment. It shows how much cash is truly available to grow the business, pay debts, or return to shareholders, helping investors see the company's financial health more clearly.
Earnings Snapshot
Revenue: $16.5 billion · Guidance included
Third quarter 2026
Revenue
$16.5 billion
up 21% year over year
GAAP net income attributable to Intel
$3.32 billion
down 18% year over year
GAAP diluted EPS
$0.60
down 33% year over year
Non-GAAP diluted EPS
$0.52
up 126% year over year
Guidance
Q4 2026 revenue of $15.0 billion to $16.0 billion; GAAP diluted EPS of $0.10 and non-GAAP diluted EPS of $0.25.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Intel (INTC)'s Q3 2026 revenue and EPS?
Intel reported third-quarter 2026 revenue of $16.5 billion, up 21% year over year. GAAP diluted EPS was $0.60, while non-GAAP diluted EPS was $0.52.
What is Intel (INTC)'s Q4 2026 outlook?
Intel forecast Q4 2026 revenue of $15.0 billion to $16.0 billion, GAAP diluted EPS of $0.10, and non-GAAP diluted EPS of $0.25. GAAP and non-GAAP gross margin estimates are 37.1% and 38.0%, respectively.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 29, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction | (Commission | (IRS Employer | ||||||
| of incorporation) | File Number) | Identification No.) | ||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
Registrant's telephone number, including area code: (408) 765-8080
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 2.02 Results of Operations and Financial Condition.
On October 29, 2026, Intel Corporation (“Intel” or the "Company") issued a press release announcing the financial results of its third quarter ended September 26, 2026 and forward-looking statements relating to its fourth quarter of 2026. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
The attached press release includes non-GAAP financial measures relating to our operations and forecasted outlook. Certain of these non-GAAP measures will be used in Intel’s earnings conference for the third quarter of 2026. In addition, the attached press release includes reconciliations of these non-GAAP measures to GAAP measures, as well as an explanation of how management uses these non-GAAP measures and the reasons why management views these measures as providing useful information for investors. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to these results should be carefully evaluated.
The information in Item 2.02 of this Report and the press release attached hereto as Exhibit 99.1 are furnished and shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are provided as part of this Report:
| Exhibit Number | Description | ||||
| 99.1 | Press Release entitled “Intel Reports Third-Quarter 2026 Financial Results” dated October 29, 2026. | ||||
| 104 | Cover Page Interactive Data File, formatted in Inline XBRL and included as Exhibit 101. | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Intel Corporation (Registrant) | |||||||||||||||||
Date: October 29, 2026 | By: | /s/ David Zinsner | |||||||||||||||
| David Zinsner | |||||||||||||||||
| Executive Vice President and Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) | |||||||||||||||||
Exhibit 99.1
Intel Corporation
2200 Mission College Blvd.
Santa Clara, CA 95054-1549
News Release
Intel Reports Third-Quarter 2026 Financial Results
News Summary
▪Third-quarter revenue was $16.5 billion, up 21% year-over-year (YoY).
▪Third-quarter earnings per share (EPS) attributable to Intel was $0.60; non-GAAP EPS attributable to Intel was $0.52.
▪Forecasting fourth-quarter 2026 revenue of $15.0 billion to $16.0 billion; forecasting fourth-quarter EPS attributable to Intel of $0.10 and non-GAAP EPS attributable to Intel of $0.25.
SANTA CLARA, Calif., October 29, 2026 – Intel Corporation today reported third-quarter 2026 financial results.
“Our Q3 results demonstrate improving execution, meaningful progress expanding supply and continued advancement of our process technology,” said Lip-Bu Tan, Intel CEO. “Despite near-term headwinds across the PC industry, demand for our CPUs remains robust, reinforcing our confidence in the long-term growth opportunities for our business. Our immediate priority is to unlock additional supply to meet extraordinary demand for our Xeon family, while strengthening our product portfolio and roadmap. We are moving with urgency and focus to capitalize on these opportunities to deliver sustainable growth and long-term shareholder value.”
“We delivered another solid quarter. Revenue, gross margin and earnings per share exceeded guidance, including our strongest data center revenue growth in 15 years,” said David Zinsner, Intel CFO. “Looking ahead, we see the PC slowdown continuing at least through the first half of next year, but we remain optimistic about the opportunities across our broader portfolio, and we will continue making disciplined investments in capacity and working capital to increase supply and support future growth.”
Q3 2026 Financial Results
| GAAP | Non-GAAP | ||||||||||||||||||||||
| Q3 2026 | Q3 2025 | vs. Q3 2025 | Q3 2026 | Q3 2025 | vs. Q3 2025 | ||||||||||||||||||
| Revenue ($B) | $16.5 | $13.7 | up 21% | ||||||||||||||||||||
| Gross margin | 43.0% | 38.2% | up 4.8 ppts | 44.1% | 40.0% | up 4.1 ppts | |||||||||||||||||
| R&D and MG&A ($B) | $4.5 | $4.4 | up 4% | $4.1 | $3.9 | up 3% | |||||||||||||||||
| Operating margin | 15.3% | 5.0% | up 10.3 ppts | 19.6% | 11.2% | up 8.4 ppts | |||||||||||||||||
| Tax rate | 11.6% | 6.6% | up 5 ppts | 11.0% | 12.0% | down 1 ppt | |||||||||||||||||
| Net income attributable to Intel ($B) | $3.3 | $4.1 | down 18% | $2.8 | $1.0 | up 169% | |||||||||||||||||
| Earnings per share attributable to Intel—diluted | $0.60 | $0.90 | down 33% | $0.52 | $0.23 | up 126% | |||||||||||||||||
Full reconciliations between GAAP and non-GAAP measures are provided below.
In the third quarter, the company generated $5.1 billion in cash from operations.
Intel/Page 2
Business Unit Summary
| Business Unit Revenue and Trends (In Billions) | Q3 20261 | vs. Q3 2025 | ||||||||||||
| Intel Products: | ||||||||||||||
Client Computing and Physical AI Group (CCPG)2 | $8.1 | down 5% | ||||||||||||
| Data Center and AI (DCAI) | 7.3 | up 78% | ||||||||||||
| Total Intel Products revenue | 15.4 | up 22% | ||||||||||||
| Intel Foundry | 6.7 | up 58% | ||||||||||||
All Other3 | 0.7 | down 30% | ||||||||||||
| Intersegment eliminations | (6.3) | |||||||||||||
| Total net revenue | $16.5 | up 21% | ||||||||||||
1 Operating segment revenues include intersegment transactions and are presented as actual and rounded; as a result, totals may not sum. | ||||||||||||||
2 CCPG was referred to as the Client Computing Group (CCG) in Q1 2026 and earlier periods. | ||||||||||||||
3 Altera, previously a wholly owned subsidiary, was deconsolidated following the sale of 51% of its common stock on September 12, 2025. Altera's results of operations were included in Intel's Consolidated Condensed Financial Statements through September 11, 2025. | ||||||||||||||
Business Highlights
Company Momentum
•Completed a $23 billion public equity offering to support future growth opportunities while maintaining a strong balance sheet and investment-grade rating.
•Announced plans to acquire Classiq, combining its quantum software synthesis platform with Intel’s spin-qubit manufacturing and software expertise to create a full-stack quantum computing platform.
Product Momentum
•Announced plans for a multiyear collaboration with Oracle intended to expand Intel® Xeon®-based computing on Oracle Cloud Infrastructure (OCI), which is expected to span current and future Intel Xeon platforms, including planned OCI X14 offerings powered by Intel’s next-generation server processor code-named Diamond Rapids.
•Shared new technical details on the Intel® GPU D-series, formerly code-named Crescent Island, introduced new Intel Xeon-based rack designs and highlighted open software and ecosystem innovations at OCP Global Summit 2026. Intel also demonstrated day-0 support for Meta's Muse Spark Open, which has been tested and is running on the upcoming Intel GPU D-series and Intel Xeon platforms.
•Showcased three architectures for Agentic AI and Enterprise-scale workloads at Hot Chips 2026: next-generation Intel Xeon code-named Diamond Rapids for high-performance orchestration, Intel GPU D-series for efficient inference, and Intel® Core™ Series 3 for intelligent client and edge computing.
•Announced the first Googlebook devices powered by Intel Core Ultra Series 3 processors with premium devices from Acer, ASUS and Lenovo, bringing together Google's next-generation computing and Intel's flagship client platform.
•Collaborated with AMD to bring x86 CPU optimizations for PyTorch together in oneDNN, simplifying AI development and deployment across Intel and AMD CPUs.
•Announced a collaboration with SAP to bridge business IT systems and the operational technology that controls physical equipment and processes through Physical AI.
Foundry Momentum
•Released Intel 14A 0.9 process design kit (PDK) in October.
•Announced a collaboration with Lens Technology, combining Intel's advanced packaging expertise with Lens Technology's precision glass processing capabilities to enable advanced semiconductor packaging for the AI era.
•Completed the RAMP-C program, enabling validated prototypes, ecosystem readiness and early customer engagement to accelerate momentum for Secure Enclave.
•Announced a collaboration with ASML to accelerate industry readiness for High-NA EUV manufacturing.
Intel/Page 3
•Collaborated with Lam Research and Applied Materials on new facilities to expand capacity and enable joint R&D in process technology and manufacturing equipment.
Culture & Leadership
•Appointed Dean Jarnac as executive vice president and chief sales officer, leading Intel's global sales organization and strengthening customer relationships and go-to-market execution across the company's product portfolio.
Business Outlook
Intel's guidance for the fourth quarter of 2026 includes both GAAP and non-GAAP estimates as follows:
| Q4 2026 | GAAP | Non-GAAP | ||||||||||||
| Revenue ($B) | $15.0 - $16.0 | |||||||||||||
| Gross margin | 37.1% | 38.0% | ||||||||||||
| Tax Rate | 31% | 11% | ||||||||||||
| Earnings (Loss) Per Share Attributable to Intel—Diluted | $0.10 | $0.25 | ||||||||||||
Reconciliations between GAAP and non-GAAP financial measures are included below. Actual results may differ materially from Intel’s business outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below. The gross margin and EPS outlooks are based on the midpoint of the revenue range.
Earnings Webcast
Intel will hold a public webcast at 2 p.m. PT today to discuss the results for its third quarter. The live public webcast can be accessed on Intel's Investor Relations website at www.intc.com. The corresponding earnings presentation and webcast replay will also be available on the site.
Forward-Looking Statements
This release contains forward-looking statements that involve a number of risks and uncertainties. Words such as "accelerate", "achieve", "aim", "ambitions", "anticipate", "believe", "committed", "continue", "could", "designed", "estimate", "expect", "forecast", "future", "goals", "grow", "guidance", "intend", "likely", "may", "might", "milestones", "next-generation", "objective", "on track", "opportunity", "outlook", "pending", "plan", "position", "possible", "potential", "predict", "progress", "ramp", "roadmap", "seek", "should", "strive", "targets", "to be", "upcoming", "will", "would" and variations of such words and similar expressions are intended to identify such forward-looking statements, which may include statements regarding:
▪our business plans and strategy and anticipated benefits therefrom;
▪projections of our future financial performance, including future revenue, gross profits, capital expenditures and cash flows;
▪projected costs and yield trends;
▪future cash requirements, the availability, uses, sufficiency and cost of capital resources, and sources of funding, including for future capital and R&D investments and for returns to stockholders, and credit ratings expectations;
▪future products, services and technologies, and the expected goals, timeline, ramps, progress, availability, production, regulation and benefits of such products, services and technologies, including future process nodes and packaging technologies, product roadmaps, schedules, future product architectures, expectations regarding process performance, per-watt parity and metrics, and expectations regarding product and process competitiveness;
▪internal and external manufacturing plans, including future internal manufacturing volumes, manufacturing expansion plans and the financing therefor, and external foundry usage;
▪future production capacity and product supply;
▪supply expectations, including regarding constraints, limitations, pricing, and industry shortages;
▪plans and goals related to Intel's foundry business, including with respect to anticipated customers, future manufacturing capacity and service, technology and IP offerings;
▪expected timing and impact of acquisitions, divestitures and other significant transactions;
Intel/Page 4
▪expected completion and impacts of restructuring activities and cost-saving or efficiency initiatives;
▪social and environmental performance goals, measures, strategies and results;
▪our anticipated growth, future market share, customer demand and trends in our businesses and operations;
▪projected growth and trends in markets relevant to our businesses;
▪anticipated trends and impacts related to industry component, substrate and foundry capacity utilization, shortages and constraints;
▪expectations regarding government funding, incentives, policies and priorities;
▪technology trends and developments, including with respect to AI;
▪macroeconomic conditions;
▪geopolitical tensions and conflicts, including with respect to international trade policies in areas such as tariffs and export controls, and their potential impact on our business;
▪tax- and accounting-related expectations;
▪expectations regarding our relationships with certain sanctioned parties; and
▪other characterizations of future events or circumstances.
Such statements involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied, including those associated with:
▪the high level of competition and rapid technological change in our industry;
▪the significant, long-term and inherently risky investments we are making in R&D and manufacturing facilities that may not realize a favorable return;
▪the complexities and uncertainties in developing and implementing new semiconductor products and manufacturing process technologies;
▪our pursuit of Intel 14A and other next-generation leading-edge process technologies, our investments in manufacturing expansion projects to manufacture products using such technologies and our efforts to secure product design wins with and demand commitments from potential significant external customers for the manufacture of products using such technologies;
▪alternative financing arrangements and pursuit of government grants;
▪the U.S. government's acquisition of significant equity interests in us;
▪changes in product demand and margins;
▪macroeconomic conditions and geopolitical tensions and conflicts, including geopolitical and trade tensions between the U.S. and China, tensions and conflict affecting Israel and the Middle East, rising tensions between mainland China and Taiwan and the impacts of Russia's war on Ukraine;
▪recently elevated geopolitical tensions, volatility and uncertainty with respect to international trade policies, including tariffs and export controls, impacting our business, the markets in which we compete and the world economy;
▪the evolving market for products with AI capabilities;
▪our complex global supply chain supporting our manufacturing facilities and incorporating external foundries, including from disruptions, delays, trade tensions and conflicts, or shortages, including current industry-wide substrate and memory shortages;
▪product defects, errata and other product issues, particularly as we develop next-generation products and implement next-generation manufacturing process technologies;
▪potential security vulnerabilities in our products;
▪increasing and evolving cybersecurity threats and privacy risks;
▪IP risks including related litigation and regulatory proceedings;
▪the need to attract, retain and motivate key talent;
▪strategic transactions and investments;
▪sales-related risks, including customer concentration and the use of distributors and other third parties;
▪our debt obligations and our ability to access sources of capital;
▪complex and evolving laws and regulations across many jurisdictions;
▪catastrophic events;
Intel/Page 5
▪fluctuations in currency exchange rates;
▪changes in our effective tax rate and applicable tax regimes;
▪environmental, health, safety and product regulations; and
▪other risks and uncertainties described in this report, our 2025 Form 10-K, our Q1 2026 Form 10-Q, our Q2 2026 Form 10-Q, our Q3 2026 Form 10-Q and our other filings with the SEC.
Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made in this release and in other documents we file from time to time with the SEC that disclose risks and uncertainties that may affect our business.
Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions or other business combinations that have not been completed as of the date of this filing. In addition, the forward-looking statements in this release are based on management's expectations as of the date of this release, unless an earlier date is specified, including expectations based on third-party information and projections that management believes to be reputable. We do not undertake, and expressly disclaim any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law.
About Intel
Intel (Nasdaq: INTC) designs and manufactures advanced semiconductors that connect and power the modern world. Every day, our engineers create new technologies that enhance and shape the future of computing to enable new possibilities for every customer we serve. Learn more at www.intel.com.
© Intel Corporation. Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.
Intel/Page 6
Intel Corporation
Consolidated Condensed Statements of Operations and Other Information
| Three Months Ended | ||||||||||||||
(In Millions, Except Per Share Amounts; Unaudited) | Sep 26, 2026 | Sep 27, 2025 | ||||||||||||
| Net revenue | $ | 16,513 | $ | 13,653 | ||||||||||
| Cost of sales | 9,417 | 8,435 | ||||||||||||
| Gross profit | 7,096 | 5,218 | ||||||||||||
| Research and development | 3,490 | 3,231 | ||||||||||||
| Marketing, general, and administrative | 1,030 | 1,129 | ||||||||||||
| Restructuring and other charges | 54 | 175 | ||||||||||||
| Operating expenses | 4,574 | 4,535 | ||||||||||||
| Operating income (loss) | 2,522 | 683 | ||||||||||||
| Gains (losses) on equity investments, net | 330 | 221 | ||||||||||||
| Interest and other, net | 1,130 | 3,670 | ||||||||||||
| Income (loss) before taxes | 3,982 | 4,574 | ||||||||||||
| Provision for (benefit from) taxes | 462 | 304 | ||||||||||||
| Net income (loss) | 3,520 | 4,270 | ||||||||||||
| Less: net income (loss) attributable to non-controlling interests | 200 | 207 | ||||||||||||
| Net income (loss) attributable to Intel | $ | 3,320 | $ | 4,063 | ||||||||||
| Earnings (loss) per share attributable to Intel—basic | $ | 0.63 | $ | 0.90 | ||||||||||
Earnings (loss) per share attributable to Intel—diluted1 | $ | 0.60 | $ | 0.90 | ||||||||||
| Weighted average shares of common stock outstanding: | ||||||||||||||
| Basic | 5,244 | 4,514 | ||||||||||||
| Diluted | 5,307 | 4,531 | ||||||||||||
1 For the three months ended September 26, 2026 and September 27, 2025, earnings per share attributable to Intel-diluted has been calculated by adjusting net income attributable to Intel for the gain of $120 million and loss of $2 million, respectively, related to the mark-to-market of that portion of the derivative liability that is attributable to 5 million and 342 thousand, respectively, contingent Escrowed Shares that were included in the weighted average shares of common stock outstanding-diluted during the period.
| Other information: | ||||||||||||||||||||
| (In Thousands; Unaudited) | Sep 26, 2026 | Jun 27, 2026 | Sep 27, 2025 | |||||||||||||||||
| Employees | ||||||||||||||||||||
| Intel | 76.5 | 77.6 | 83.3 | |||||||||||||||||
| Mobileye and other subsidiaries | 4.6 | 4.7 | 5.1 | |||||||||||||||||
| Total Intel | 81.1 | 82.3 | 88.4 | |||||||||||||||||
Intel/Page 7
Intel Corporation
Consolidated Condensed Balance Sheets
(In Millions, Except Par Value; Unaudited) | Sep 26, 2026 | Dec 27, 2025 | ||||||||||||
| Assets | ||||||||||||||
| Current assets: | ||||||||||||||
| Cash and cash equivalents | $ | 21,846 | $ | 14,265 | ||||||||||
| Short-term investments | 32,159 | 23,151 | ||||||||||||
| Accounts receivable, net | 4,093 | 3,839 | ||||||||||||
| Inventories | ||||||||||||||
| Raw materials | 1,233 | 993 | ||||||||||||
| Work in process | 8,797 | 7,840 | ||||||||||||
| Finished goods | 3,038 | 2,785 | ||||||||||||
| 13,068 | 11,618 | |||||||||||||
| Other current assets | 11,408 | 10,815 | ||||||||||||
| Total current assets | 82,574 | 63,688 | ||||||||||||
| Property, plant, and equipment, net | 105,314 | 105,414 | ||||||||||||
| Equity investments | 8,798 | 8,512 | ||||||||||||
| Goodwill | 20,465 | 23,912 | ||||||||||||
| Identified intangible assets, net | 2,444 | 2,772 | ||||||||||||
| Other long-term assets | 8,979 | 7,131 | ||||||||||||
| Total assets | $ | 228,574 | $ | 211,429 | ||||||||||
| Liabilities and stockholders' equity | ||||||||||||||
| Current liabilities: | ||||||||||||||
| Accounts payable | 8,831 | 9,882 | ||||||||||||
| Accrued compensation and benefits | 3,905 | 3,990 | ||||||||||||
| Short-term debt | 3,817 | 2,499 | ||||||||||||
| Other accrued liabilities | 20,843 | 15,204 | ||||||||||||
| Total current liabilities | 37,396 | 31,575 | ||||||||||||
| Debt | 46,317 | 44,086 | ||||||||||||
| Other long-term liabilities | 13,305 | 9,408 | ||||||||||||
| Stockholders' equity | ||||||||||||||
Common stock and capital in excess of par value, 5,310 shares issued and outstanding (4,994 issued and outstanding as of December 27, 2025) | 78,177 | 65,185 | ||||||||||||
| Accumulated other comprehensive income (loss) | (232) | 113 | ||||||||||||
| Retained earnings | 36,969 | 48,983 | ||||||||||||
| Total Intel stockholders' equity | 114,914 | 114,281 | ||||||||||||
| Non-controlling interests | 16,642 | 12,079 | ||||||||||||
| Total stockholders' equity | 131,556 | 126,360 | ||||||||||||
| Total liabilities and stockholders’ equity | $ | 228,574 | $ | 211,429 | ||||||||||
Intel/Page 8
Intel Corporation
Consolidated Condensed Statements of Cash Flows
| Nine Months Ended | ||||||||||||||
(In Millions; Unaudited) | Sep 26, 2026 | Sep 27, 2025 | ||||||||||||
| Cash, cash equivalents, and restricted cash, beginning of period | $ | 14,712 | $ | 8,249 | ||||||||||
| Cash flows provided by (used for) operating activities: | ||||||||||||||
| Net income (loss) | (11,609) | 359 | ||||||||||||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||
| Depreciation | 8,933 | 7,971 | ||||||||||||
| Share-based compensation | 1,894 | 1,896 | ||||||||||||
| Restructuring and other charges | 3,969 | 372 | ||||||||||||
| Amortization of intangibles | 659 | 708 | ||||||||||||
| (Gains) losses on equity investments, net | (219) | (611) | ||||||||||||
Mark-to-market (gains) losses on Escrowed Shares1 | 12,614 | 1,687 | ||||||||||||
| (Gains) losses on divestitures | 18 | (5,355) | ||||||||||||
| Deferred taxes | 56 | 123 | ||||||||||||
| Impairments and net (gain) loss on retirement of property, plant, and equipment | 140 | 465 | ||||||||||||
| Changes in assets and liabilities: | ||||||||||||||
| Accounts receivable | (281) | 162 | ||||||||||||
| Inventories | (1,450) | (9) | ||||||||||||
| Accounts payable | 821 | (281) | ||||||||||||
| Accrued compensation and benefits | (207) | 541 | ||||||||||||
| Income taxes | (405) | (1,196) | ||||||||||||
| Other assets and liabilities | (1,749) | (1,423) | ||||||||||||
| Total adjustments | 24,793 | 5,050 | ||||||||||||
| Net cash provided by (used for) operating activities | 13,184 | 5,409 | ||||||||||||
| Cash flows provided by (used for) investing activities: | ||||||||||||||
| Additions to property, plant, and equipment | (10,216) | (11,158) | ||||||||||||
| Proceeds from capital-related government incentives | 215 | 1,018 | ||||||||||||
| Acquisitions, net of cash acquired | (596) | — | ||||||||||||
| Purchases of short-term investments | (32,151) | (16,401) | ||||||||||||
| Maturities of short-term investments | 10,767 | 8,236 | ||||||||||||
| Sales of short-term investments | 11,911 | 2,728 | ||||||||||||
| Sales of equity investments | 401 | 642 | ||||||||||||
| Proceeds from divestitures, net | — | 6,186 | ||||||||||||
| Other investing | (590) | 494 | ||||||||||||
| Net cash provided by (used for) investing activities | (20,259) | (8,255) | ||||||||||||
| Cash flows provided by (used for) financing activities: | ||||||||||||||
| Issuance of commercial paper, net of issuance costs | — | 3,493 | ||||||||||||
| Repayment of commercial paper | — | (3,493) | ||||||||||||
| Payments on finance leases | (951) | (103) | ||||||||||||
| Partner contributions | 5,032 | 3,652 | ||||||||||||
| Partner distributions | (14,442) | (159) | ||||||||||||
| Net proceeds from sales of subsidiary shares | — | 922 | ||||||||||||
| Additions to property, plant, and equipment | (1,618) | (2,493) | ||||||||||||
| Issuance of term debt, net of issuance costs | 13,000 | — | ||||||||||||
| Repayments of term debt | (9,000) | (3,750) | ||||||||||||
| Proceeds from sales of common stock through employee equity incentive plans | 736 | 777 | ||||||||||||
Net proceeds attributed to common stock and warrants issued, and Escrowed Shares1 | 440 | 7,682 | ||||||||||||
| Net proceeds from public offering of common stock | 22,617 | — | ||||||||||||
| Restricted stock unit withholdings | (907) | (286) | ||||||||||||
| Other financing | (146) | (504) | ||||||||||||
| Net cash provided by (used for) financing activities | 14,761 | 5,738 | ||||||||||||
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 7,686 | 2,892 | ||||||||||||
| Cash, cash equivalents, and restricted cash, end of period | $ | 22,398 | $ | 11,141 | ||||||||||
1 Escrowed Shares refer to shares of Intel common stock held in escrow to be released to the U.S. Department of Commerce (DOC) as we perform and receive cash proceeds in connection with our CHIPS Act Secure Enclave agreement with the U.S. Government.
Intel/Page 9
Intel Corporation
Supplemental Operating Segment Results
| Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In Millions; Unaudited) | Sep 26, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Intel Products | ||||||||||||||||||||||||||||||||||||||||||||||||||
CCPG1 | DCAI | Total Intel Products | Intel Foundry | All Other2 | Corporate Unallocated | Intersegment Eliminations | Total Consolidated | |||||||||||||||||||||||||||||||||||||||||||
| Revenue | $ | 8,097 | $ | 7,318 | $ | 15,415 | $ | 6,697 | $ | 692 | $ | — | $ | (6,291) | $ | 16,513 | ||||||||||||||||||||||||||||||||||
Cost of sales and operating expenses | 5,812 | 4,279 | 10,091 | 8,550 | 513 | 1,058 | (6,221) | 13,991 | ||||||||||||||||||||||||||||||||||||||||||
| Operating income (loss) | $ | 2,285 | $ | 3,039 | $ | 5,324 | $ | (1,853) | $ | 179 | $ | (1,058) | $ | (70) | $ | 2,522 | ||||||||||||||||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In Millions; Unaudited) | Sep 27, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Intel Products | ||||||||||||||||||||||||||||||||||||||||||||||||||
CCPG1 | DCAI | Total Intel Products | Intel Foundry | All Other2 | Corporate Unallocated | Intersegment Eliminations | Total Consolidated | |||||||||||||||||||||||||||||||||||||||||||
| Revenue | $ | 8,535 | $ | 4,117 | $ | 12,652 | $ | 4,235 | $ | 993 | $ | — | $ | (4,227) | $ | 13,653 | ||||||||||||||||||||||||||||||||||
Cost of sales and operating expenses | 5,841 | 3,153 | 8,994 | 6,556 | 893 | 782 | (4,255) | 12,970 | ||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | $ | 2,694 | $ | 964 | $ | 3,658 | $ | (2,321) | $ | 100 | $ | (782) | $ | 28 | $ | 683 | ||||||||||||||||||||||||||||||||||
1 CCPG was referred to as the Client Computing Group (CCG) in Q1 2026 and earlier periods.
2 The "All Other" category includes the results of operations from other non-reportable segments, including our Mobileye business, our IMS business, startup businesses that support our initiatives, and historical results of operations from divested businesses, including Altera, which we divested on September 12, 2025. Altera's results were included within "All Other" for periods presented through September 11, 2025.
Intel/Page 10
Intel Corporation
Explanation of Non-GAAP Measures
In addition to disclosing financial results in accordance with U.S. GAAP, this document references non-GAAP financial measures below. We believe these non-GAAP financial measures provide investors with useful supplemental information about our operating performance, enable comparison of financial trends and results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance. These non-GAAP financial measures are used in our performance-based RSUs and our cash bonus plans.
Our non-GAAP financial measures reflect adjustments based on one or more of the following items, as well as the related effects to income taxes and net income (loss) attributable to non-controlling interests. Income tax effects are calculated using a fixed long-term projected tax rate. For 2026 and 2025, we determined the projected non-GAAP tax rate to be 11% and 12%, respectively. We project this long-term non-GAAP tax rate on at least an annual basis using a five-year non-GAAP financial projection that excludes the income tax effects of each adjustment. The projected non-GAAP tax rate also considers factors such as our tax structure, our tax positions in various jurisdictions, and key legislation in significant jurisdictions where we operate. This long-term non-GAAP tax rate may be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or changes to our strategy or business operations. Management uses this non-GAAP tax rate in managing internal short- and long-term operating plans and in evaluating our performance; we believe this approach facilitates comparison of our operating results and provides useful evaluation of our current operating performance. Non-GAAP adjustments attributable to non-controlling interests are calculated by adjusting for the minority stockholder portion of non-GAAP adjustments we make for relevant acquisition-related costs, share-based compensation, restructuring and other charges, and income tax effects, as applicable to each majority-owned subsidiary.
Our non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP, and the financial results calculated in accordance with U.S. GAAP and reconciliations from these results should be carefully evaluated.
| Non-GAAP adjustment or measure | Definition | Usefulness to management and investors | ||||||
| Acquisition-related adjustments | Amortization of acquisition-related intangible assets consists of amortization of intangible assets such as developed technology, brands, and customer relationships acquired in connection with business combinations. Charges related to the amortization of these intangibles are recorded within both cost of sales and marketing, general and administrative expenses in our U.S. GAAP financial statements. Amortization charges are recorded over the estimated useful life of the related acquired intangible asset, and thus are generally recorded over multiple years. | We exclude amortization charges for our acquisition-related intangible assets for purposes of calculating certain non-GAAP measures because these charges are inconsistent in size and are significantly impacted by the timing and valuation of our acquisitions. These adjustments facilitate a useful evaluation of our current operating performance and comparison to our past operating performance and provide investors with additional means to evaluate cost and expense trends. | ||||||
| Share-based compensation | Share-based compensation consists of charges related to our employee equity incentive plans. Charges related to share-based compensation are recorded within cost of sales, research and development, and marketing, general and administrative. | We exclude charges related to share-based compensation for purposes of calculating certain non-GAAP measures because we believe these adjustments provide comparability to peer company results and because these charges are not viewed by management as part of our core operating performance. We believe these adjustments provide investors with a useful view, through the eyes of management, of our core business model, how management currently evaluates core operational performance, and additional means to evaluate expense trends, including in comparison to other peer companies. | ||||||
Intel/Page 11
| Non-GAAP adjustment or measure | Definition | Usefulness to management and investors | ||||||
| Restructuring and other charges | Restructuring charges are costs associated with restructuring plans and are primarily related to employee severance and benefit arrangements. Other charges include periodic goodwill and asset impairments, and other costs associated with certain non-core activities. Q3 2026 and Q3 2025 adjustments primarily consist of charges associated with the 2025 Restructuring Plan. | We exclude restructuring and other charges, including any adjustments to charges recorded in prior periods, for purposes of calculating certain non-GAAP measures because these costs do not reflect our core operating performance. These adjustments facilitate a useful evaluation of our core operating performance and comparisons to past operating results and provide investors with additional means to evaluate expense trends. | ||||||
| (Gains) losses on equity investments, net | (Gains) losses on equity investments, net consists of ongoing mark-to-market adjustments on marketable equity securities, observable price adjustments on non-marketable equity securities, related impairment charges, gains (losses) from the sale of equity investments, gains (losses) from equity method investments and other. | We exclude these non-operating gains and losses for purposes of calculating certain non-GAAP measures to provide comparability between periods. The exclusion reflects how management evaluates the core operations of the business. | ||||||
| (Gains) losses from divestitures | (Gains) losses are recognized at the close of a divestiture, or over a specified deferral period when deferred consideration is received at the time of closing, as a component of interest and other, net. | We exclude non-operating gains or losses resulting from divestitures for purposes of calculating certain non-GAAP measures because they do not reflect our current operating performance. These adjustments facilitate a useful evaluation of our current operating performance and comparisons to past operating results. | ||||||
| (Gains) losses from mark-to-market of Escrowed Shares | (Gains) losses on mark-to-market of Escrowed Shares is a component of interest and other, net and relates to the change in fair value of the Escrowed Shares derivative liability recognized in connection with the Warrant and Common Stock Agreement with the U.S. Government. Charges represent the net change in fair value of both Escrowed Shares released during the quarter and Escrowed Shares still held in escrow at quarter end. Q3 2026 and Q3 2025 per share calculations exclude the gain of $120 million and loss of $2 million, respectively, related to the mark-to-market of contingent Escrowed Shares that were included in the weighted average shares of common stock outstanding-diluted during the period. | We exclude these non-operating gains and losses for purposes of calculating certain non-GAAP measures to provide better comparability between periods. The exclusion reflects how management evaluates the core operations of the business. | ||||||
| Adjusted free cash flow | We reference a non-GAAP financial measure of adjusted free cash flow, which is used by management when assessing our sources of liquidity, capital resources, and quality of earnings. Adjusted free cash flow is operating cash flow adjusted for (1) additions to property, plant, and equipment, net of proceeds from capital-related government incentives and net SCIP partner contributions, and (2) payments on finance leases. | This non-GAAP financial measure is helpful in understanding our capital requirements and sources of liquidity by providing an additional means to evaluate the cash flow trends of our business. | ||||||
Intel/Page 12
Intel Corporation
Supplemental Reconciliations of GAAP Actuals to Non-GAAP Actuals
Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable U.S. GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP, and the reconciliations from U.S. GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable U.S. GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.
| Three Months Ended | ||||||||||||||
($ In Millions, Except Per Share Amounts; Unaudited) | Sep 26, 2026 | Sep 27, 2025 | ||||||||||||
| GAAP gross profit | $ | 7,096 | $ | 5,218 | ||||||||||
| Acquisition-related adjustments | 55 | 101 | ||||||||||||
| Share-based compensation | 133 | 137 | ||||||||||||
| Non-GAAP gross profit | $ | 7,284 | $ | 5,456 | ||||||||||
| GAAP gross margin percentage | 43.0 | % | 38.2 | % | ||||||||||
| Acquisition-related adjustments | 0.3 | % | 0.7 | % | ||||||||||
| Share-based compensation | 0.8 | % | 1.0 | % | ||||||||||
Non-GAAP gross margin percentage | 44.1 | % | 40.0 | % | ||||||||||
| GAAP R&D and MG&A | $ | 4,520 | $ | 4,360 | ||||||||||
| Acquisition-related adjustments | (17) | (17) | ||||||||||||
| Share-based compensation | (453) | (411) | ||||||||||||
| Non-GAAP R&D and MG&A | $ | 4,050 | $ | 3,932 | ||||||||||
| GAAP operating income (loss) | $ | 2,522 | $ | 683 | ||||||||||
| Acquisition-related adjustments | 72 | 118 | ||||||||||||
| Share-based compensation | 586 | 548 | ||||||||||||
| Restructuring and other charges | 54 | 175 | ||||||||||||
| Non-GAAP operating income (loss) | $ | 3,234 | $ | 1,524 | ||||||||||
| GAAP operating margin (loss) | 15.3 | % | 5.0 | % | ||||||||||
| Acquisition-related adjustments | 0.4 | % | 0.9 | % | ||||||||||
| Share-based compensation | 3.5 | % | 4.0 | % | ||||||||||
| Restructuring and other charges | 0.3 | % | 1.3 | % | ||||||||||
| Non-GAAP operating margin (loss) | 19.6 | % | 11.2 | % | ||||||||||
| GAAP tax rate | 11.6 | % | 6.6 | % | ||||||||||
| Income tax effects | (0.6) | % | 5.4 | % | ||||||||||
| Non-GAAP tax rate | 11.0 | % | 12.0 | % | ||||||||||
| GAAP net income (loss) attributable to Intel | $ | 3,320 | $ | 4,063 | ||||||||||
| Acquisition-related adjustments | 72 | 118 | ||||||||||||
| Share-based compensation | 586 | 548 | ||||||||||||
| Restructuring and other charges | 54 | 175 | ||||||||||||
| (Gains) losses on equity investments, net | (330) | (221) | ||||||||||||
| (Gains) losses from divestiture | 4 | (5,452) | ||||||||||||
| (Gains) losses on mark-to-market of Escrowed Shares | (1,005) | 1,687 | ||||||||||||
| Adjustments attributable to non-controlling interest | (37) | (27) | ||||||||||||
| Income tax effects | 92 | 132 | ||||||||||||
| Non-GAAP net income (loss) attributable to Intel | $ | 2,756 | $ | 1,023 | ||||||||||
Intel/Page 13
| Three Months Ended | ||||||||||||||
(In Millions, Except Per Share Amounts; Unaudited) | Sep 26, 2026 | Sep 27, 2025 | ||||||||||||
| GAAP earnings (loss) per share attributable to Intel—diluted | $ | 0.60 | $ | 0.90 | ||||||||||
| Acquisition-related adjustments | 0.02 | 0.03 | ||||||||||||
| Share-based compensation | 0.11 | 0.12 | ||||||||||||
| Restructuring and other charges | 0.01 | 0.04 | ||||||||||||
| (Gains) losses on equity investments, net | (0.06) | (0.05) | ||||||||||||
| (Gains) losses from divestiture | — | (1.20) | ||||||||||||
| (Gains) losses on mark-to-market of Escrowed Shares | (0.17) | 0.37 | ||||||||||||
| Adjustments attributable to non-controlling interest | (0.01) | (0.01) | ||||||||||||
| Income tax effects | 0.02 | 0.03 | ||||||||||||
| Non-GAAP earnings (loss) per share attributable to Intel—diluted | $ | 0.52 | $ | 0.23 | ||||||||||
GAAP net cash provided by (used for) operating activities | $ | 5,082 | $ | 2,546 | ||||||||||
Additions to property, plant, and equipment (gross capital expenditures) | (4,219) | (2,956) | ||||||||||||
Proceeds from capital-related government incentives | 48 | 54 | ||||||||||||
Partner contributions, net | 847 | 1,346 | ||||||||||||
| Payments on finance leases | (119) | (94) | ||||||||||||
| Adjusted free cash flow | $ | 1,639 | $ | 896 | ||||||||||
GAAP net cash provided by (used for) investing activities | $ | (19,590) | $ | (6,250) | ||||||||||
GAAP net cash provided by (used for) financing activities | $ | 23,309 | $ | 5,152 | ||||||||||
Intel/Page 14
Intel Corporation
Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook
Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable U.S. GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP, and the financial outlook prepared in accordance with U.S. GAAP and the reconciliations from this Business Outlook should be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable U.S. GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.
(Unaudited) | Q4 2026 Outlook1 | |||||||
| Approximately | ||||||||
GAAP gross margin percentage | 37.1 | % | ||||||
| Acquisition-related adjustments | 0.2 | % | ||||||
| Share-based compensation | 0.7 | % | ||||||
Non-GAAP gross margin percentage | 38.0 | % | ||||||
| GAAP tax rate | 31 | % | ||||||
| Income tax effects | (20) | % | ||||||
| Non-GAAP tax rate | 11 | % | ||||||
| GAAP earnings (loss) per share attributable to Intel—diluted | $ | 0.10 | ||||||
| Acquisition-related adjustments | 0.01 | |||||||
| Share-based compensation | 0.11 | |||||||
| Adjustments attributable to non-controlling interest | (0.01) | |||||||
| Income tax effects | 0.04 | |||||||
Non-GAAP earnings (loss) per share attributable to Intel—diluted | $ | 0.25 | ||||||
1 Non-GAAP gross margin percentage and non-GAAP earnings (loss) per share attributable to Intel outlook based on the mid-point of the revenue range.
Intel/Page 15
Intel Corporation
Supplemental Reconciliations of GAAP Operating Expenses to Non-GAAP Operating Expenses
Set forth below are reconciliations of non-GAAP operating expenses to the most directly comparable U.S. GAAP financial measure, GAAP operating expenses. This non-GAAP financial measure should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP, and the reconciliations should be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable U.S. GAAP measure, the ways management uses the non-GAAP measure, and the reasons why management believes the non-GAAP measure provides useful information for investors.
(In Billions; Unaudited) | Q4 2026 Outlook | Full-Year 2026 | ||||||||||||
| Approximately | Approximately | |||||||||||||
GAAP operating expenses | $ | 4.9 | $ | 22.6 | ||||||||||
| Acquisition-related adjustments | — | (0.1) | ||||||||||||
| Share-based compensation | (0.5) | (1.9) | ||||||||||||
Restructuring and other charges | — | (4.3) | ||||||||||||
Non-GAAP operating expenses | $ | 4.4 | $ | 16.3 | ||||||||||
Contacts:
Investor Relations
investor.relations@intel.com
Abby Zhang
Media Relations
abby.zhang@intel.com