Intel Shares Climb 5% on Q3 Earnings Beat and Positive Q4 Outlook

Intel Corporation (NASDAQ:INTC) saw its stock rise over 5% intra-day on Friday after posting third-quarter results that exceeded expectations and issuing an upbeat forecast for the fourth quarter. Despite ongoing restructuring, Intel’s performance hinted at potential stabilization in its core business.

For Q3, Intel reported revenue of $13.3 billion, surpassing the expected $13.02 billion, though it represented a 7.5% decline year-over-year. The company posted an adjusted loss per share of -$0.46, which fell short of analyst projections of -$0.02, impacted significantly by $3.1 billion in asset impairment charges tied to manufacturing.

Intel’s outlook for Q4 was optimistic, with projected revenue between $13.3 billion and $14.3 billion, placing the midpoint at $13.8 billion, above the Street consensus of $13.66 billion. The chipmaker also forecast adjusted earnings of $0.12 per share, ahead of the $0.08 anticipated by analysts.