Intel reported third quarter 2026 results that significantly exceeded analyst expectations on both the top and bottom lines. The performance was anchored by the strongest data center revenue growth in 15 years, which offset continued headwinds in the PC market. The company also strengthened its balance sheet by completing a $23 billion public equity offering during the period.
Key Highlights
- Data Center and AI (DCAI) revenue surged 78% year-over-year to $7.3 billion, driven by robust demand for Xeon processors.
- Intel Foundry revenue reached $6.7 billion, a 58% year-over-year increase, significantly outperforming internal and external growth targets.
- Non-GAAP operating margin expanded to 19.6%, up 8.4 percentage points year-over-year, reflecting progress on the company's multi-year cost-reduction initiative.