Intel Corp (NASDAQ:INTC) reported financial results for the third quarter on Thursday after the bell. Here’s a look at the key metrics from the print.
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Q3 Highlights: Intel reported third-quarter revenue of $13.65 billion, beating analyst estimates of $13.14 billion. The chipmaker reported third-quarter adjusted earnings of 23 cents per share, beating estimates of one cent per share, according to Benzinga Pro.
Total revenue in the third quarter was up 3% on a year-over-year basis. Here’s a breakdown of revenue by category:
- Client Computing Group: $8.5 billion, up 5% year-over-year
- Data Center and AI: $4.1 billion, down 1% year-over-year
- All Other: $1 billion, up 3% year-over-year
- Total Intel Products: $12.7 billion, up 3% year-over-year
- Intel Foundry: $4.2 billion, down 2% year-over-year
Intel generated $2.5 billion in cash from operations during the quarter and ended the period with approximately $11.14 billion in cash and cash equivalents.
“AI is accelerating demand for compute and creating attractive opportunities across our portfolio, including our core x86 platforms, new efforts in purpose-built ASICs and accelerators, and foundry services,” said Lip-Bu Tan, CEO of Intel.
“Intel’s industry-leading CPUs and ecosystem, along with our unique U.S.-based leading-edge logic manufacturing and R&D, position us well to capitalize on these trends over time.”
What’s Next: Intel sees fourth-quarter revenue in the range of $12.8 billion to $13.8 billion versus estimates of $13.37 billion. The company anticipates fourth-quarter adjusted earnings of eight cents per share, in line with estimates.
Intel executives will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
INTC Price Action: Intel shares were up 6.10% in after-hours, trading at $40.40 at the time of publication on Thursday, according to Benzinga Pro.
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