$INTC · INTEL CORP
Intel filed its 10-Q for the quarter ended September 26, 2026. Q3 revenue hit $16.513B (+20.9% YoY) with gross margin of 43.0% and diluted EPS of $0.60. However, the nine-month picture is grim: a net loss attributable to Intel of $11.441B, driven by a $12.184B loss in interest and other net and $4.294B in restructuring charges. Intel Foundry alone lost $6.379B YTD.
- Q3 revenue $16.513B, +20.9% YoY; gross margin expanded to 43.0% from 38.2%
- Q3 diluted EPS $0.60 vs $0.90 a year ago — profit down 33% despite revenue surge
- Nine-month net loss attributable to Intel: $11.441B, driven by $12.184B interest and other net loss
- YTD restructuring charges ballooned to $4.294B from $2.221B a year ago
- Intel Foundry lost $1.853B in Q3 and $6.379B YTD, remaining a deep drag on consolidated results
Extended-hours last trade at $68.67, down 25.42% from the $92.07 regular close. The brutal after-hours reaction suggests the market is fixated on the $11.4B nine-month net loss and the Foundry segment's continued hemorrhage rather than the Q3 revenue beat.
A 25% after-hours wipeout on a $487B market-cap name: the market is pricing in deep skepticism that Intel's foundry strategy can survive its current cash-burn trajectory.
Intel's foundry losses contrast sharply with TSMC's dominant profitability in contract manufacturing. The DCAI segment revenue nearly doubled YoY to $7.318B in Q3, suggesting AI tailwinds are real but insufficient to offset structural drags from the foundry buildout.
Restructuring charges hit $4.294B YTD, nearly double the prior year's $2.221B, signaling ongoing operational upheaval. Intel Foundry's $6.379B YTD operating loss raises going-concern questions about the viability of the foundry strategy if external customer wins don't materialize.