Jun 2026 (Q2 FY26) — Jul 23, 2026
Intel Q2 FY26 — Strong AI Demand Drives Record Server Growth and Increased CapEx
Read the full callIntel (INTC) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Intel earnings: last reported Thu, 23 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 16,128 | +25.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 11.1 | +35.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -11,033 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
27 of 32 judged targets kept · 25 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Clearwater Forest launch | launch in 2025 | Jun 2024 | DCAI launched Xeon 6+ codenamed Clearwater Forest, our first server class product on 18A | Achieved* |
| Advanced packaging (EMIB / EMIB-T) customer ramps | customer ramps beginning in second half of 2026 | Dec 2025 | we focused on ramping the technology into high volume and high quality to support customer ramps in 2027 | Delayed |
| Full-year gross capital expenditures | significantly above 2026 levels | Jun 2026 | we're forecasting 2027 capital expenditures to be significantly above the 2026 levels with the vast majority spent across our U.S. network | New |
5 of INTEL CORP's 57 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 54 more targets are in the full ledger.
Claimed
- Revenue was $16.1 billion, $1.8 billion above the midpoint of guidance.
- Non-GAAP gross margin was 41.8%, approximately 280 basis points better than guidance.
- Non-GAAP earnings per share was $0.42, exceeding guidance of $0.20.
- AI-driven businesses grew greater than 70% year-over-year, contributing approximately 70% of revenue.
- Data Center AI Group (DCAI) revenue increased 59% year-over-year, marking the strongest server growth on record.
Qualified
- Industry-wide supply constraints across wafers, memory, and substrates persist for the foreseeable future.
- PC consumption is expected to be subseasonal in the second half of 2026 and down low double digits percent for the full year.
- Intel Foundry reported an operating loss of $2.1 billion in Q2 FY26.
- Client Computing and Physical AI Group (CCPG) operating profit was down approximately $173 million quarter-over-quarter due to inventory charges.
Price
$92.03 +2.43% · +$2.18
Performance +148.7% 1Y
1Y: $37.01 on 17 Oct 2025 → $92.03. High $140.94 (22 Jun 2026), low $33.62 (20 Nov 2025).
- Previous close
- $89.85
- 52-week range
- $33.62 – $140.94
- One year
- +141.55%
Overview
- Symbol
- INTC
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
27 of 32 judged targets kept · 25 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Clearwater Forest launch | launch in 2025 | Jun 2024 | DCAI launched Xeon 6+ codenamed Clearwater Forest, our first server class product on 18A | Achieved* |
| Advanced packaging (EMIB / EMIB-T) customer ramps | customer ramps beginning in second half of 2026 | Dec 2025 | we focused on ramping the technology into high volume and high quality to support customer ramps in 2027 | Delayed |
| Full-year gross capital expenditures | significantly above 2026 levels | Jun 2026 | we're forecasting 2027 capital expenditures to be significantly above the 2026 levels with the vast majority spent across our U.S. network | New |
Claimed
- Revenue was $16.1 billion, $1.8 billion above the midpoint of guidance.
- Non-GAAP gross margin was 41.8%, approximately 280 basis points better than guidance.
- Non-GAAP earnings per share was $0.42, exceeding guidance of $0.20.
- AI-driven businesses grew greater than 70% year-over-year, contributing approximately 70% of revenue.
- Data Center AI Group (DCAI) revenue increased 59% year-over-year, marking the strongest server growth on record.
Qualified
- Industry-wide supply constraints across wafers, memory, and substrates persist for the foreseeable future.
- PC consumption is expected to be subseasonal in the second half of 2026 and down low double digits percent for the full year.
- Intel Foundry reported an operating loss of $2.1 billion in Q2 FY26.
- Client Computing and Physical AI Group (CCPG) operating profit was down approximately $173 million quarter-over-quarter due to inventory charges.
The full ledger
Open INTEL CORP’s full ledger
A free account opens 5 company ledgers a month. All 57 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 23, 2026
Intel Q1 FY26 — Strong Demand and Improved Supply Drive Beat
Read the full callDec 2025 (Q4 FY25) — Jan 22, 2026
Intel Q4 FY25 — Strong AI Demand Drives Revenue Beat Amidst Supply Constraints
Read the full callEvery analysed call
Intel earnings calls (INTC)
Financials
What the filings say
Net profit, year on year: −278% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 13,284 | 14,260 | 12,667 | 12,859 | 13,653 | 13,674 | 13,577 | 16,128 |
| Expenses | 22,341 | 13,848 | 12,968 | 16,035 | 12,970 | 13,094 | 16,713 | 14,332 |
| Operating profit | -9,057 | 412 | -301 | -3,176 | 683 | 580 | -3,136 | 1,796 |
| Operating margin | −68.2% | 2.9% | −2.4% | −24.7% | 5.0% | 4.2% | −23.1% | 11.1% |
| Other income | 130 | -129 | -173 | -95 | 3,670 | -145 | -738 | -12,576 |
| Interest | 248 | 234 | 299 | 227 | 282 | 283 | 264 | 321 |
| Profit before tax | -9,086 | 599 | -586 | -2,769 | 4,574 | 338 | -3,946 | -10,819 |
| Tax rate | −87.0% | 125.5% | −51.4% | −9.2% | 6.7% | 198.5% | −8.5% | −0.3% |
| Net profit | -16,639 | -126 | -821 | -2,918 | 4,063 | -591 | -3,728 | -11,033 |
| EPS ($ per share) | -3.88 | — | -0.19 | -0.67 | 0.90 | — | -0.73 | -2.16 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 25,365 | 25,261 | 25,556 | 28,006 | 31,580 | 36,649 | 50,949 | 65,185 |
| Reserves | 50,172 | 53,523 | 56,233 | 68,265 | 70,405 | 69,156 | 49,032 | 48,983 |
| Total liabilities | 53,400 | 59,020 | 72,053 | 73,015 | 78,817 | 81,607 | 91,453 | 85,069 |
| Fixed assets | 48,976 | 55,386 | 56,584 | 63,245 | 80,860 | 96,647 | 107,919 | 105,414 |
| Total assets | 127,963 | 136,524 | 153,091 | 168,406 | 182,103 | 191,572 | 196,485 | 211,429 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 29,432 | 33,145 | 35,864 | 29,456 | 15,433 | 11,471 | 8,288 | 9,697 |
| Cash from investing | -11,239 | -14,405 | -21,524 | -24,283 | -10,231 | -24,041 | -18,256 | -14,821 |
| Cash from financing | -18,607 | -17,565 | -12,669 | -6,211 | 1,115 | 8,505 | 11,138 | 11,587 |
| Net cash flow | -414 | 1,175 | 1,671 | -1,038 | 6,317 | -4,065 | 1,170 | 6,463 |
| Capital expenditure | -15,181 | -16,213 | -14,259 | -18,733 | -24,844 | -25,750 | -23,944 | -14,646 |
| Free cash flow | 14,251 | 16,932 | 21,605 | 10,723 | -9,411 | -14,279 | -15,656 | -4,949 |
INTC revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Client Computing and Physical AI Group | — | — | — | — | — | — | — | 55% | — |
| Datacenter and AI | 25% | 24% | 33% | 31% | 30% | 35% | 37% | 39% | +59.0% |
| Intel Foundry | 33% | 32% | 37% | 34% | 31% | 33% | 40% | 36% | +30.5% |
| All Other Segments | 1% | 23% | 7% | 8% | 7% | 4% | 5% | 4% | -33.4% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
52 filings between Dec 1, 2025 and Aug 11, 2026.
Open market
decisions to buy or sellPurchases
$10.25M
2 purchases by 2 insiders
Sales
$7.47M
3 sales by 2 insiders
Compensation
not trading decisions- 29
- Option exercise — converted options into shares
- 18
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| TAN LIP BU | $10.00M | — | Aug 11, 2026 |
| Miller Boise April | — | $4.99M | May 1, 2026 |
| Chandrasekaran Nagasubramaniyan | — | $2.49M | May 29, 2026 |
| Zinsner David | $250.0K | — | Jan 26, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 11, 2026 | TAN LIP BU CEO | Purchase | 105,263 | $10.00M |
| Jul 30, 2026 | Chandrasekaran Nagasubramaniyan EVP, CT & Ops Off, GM Foundry | Tax withheld | 14,738 | $1.33M |
| Jul 30, 2026 | Chandrasekaran Nagasubramaniyan EVP, CT & Ops Off, GM Foundry | Option exercise | 33,007 | — |
| Jun 1, 2026 | Zinsner David EVP, CFO | Tax withheld | 18,353 | $2.02M |
| Jun 1, 2026 | Zinsner David EVP, CFO | Option exercise | 37,015 | — |
| May 29, 2026 | Chandrasekaran Nagasubramaniyan EVP, CT & Ops Off, GM Foundry | Sale | 21,024 | $2.49M |
| May 7, 2026 | Goldsmith Andrea Jo Director | Option exercise | 12,552 | — |
| May 7, 2026 | Smith Gregory D Director | Option exercise | 12,552 | — |
| May 7, 2026 | Meurice Eric Director | Option exercise | 12,552 | — |
| May 7, 2026 | Smith Stacy J Director | Option exercise | 12,552 | — |
| May 7, 2026 | Sanghi Steve Director | Option exercise | 12,552 | — |
| May 7, 2026 | WEISLER DION J Director | Option exercise | 12,552 | — |
| May 7, 2026 | Henry Alyssa Director | Option exercise | 12,552 | — |
| May 7, 2026 | Yeary Frank D Director | Option exercise | 12,552 | — |
| May 7, 2026 | BARRATT CRAIG H Director | Option exercise | 2,730 | — |
| May 7, 2026 | GOETZ JAMES J Director | Option exercise | 12,552 | — |
| May 7, 2026 | Yeary Frank D Director | Option exercise | 14,059 | — |
| May 1, 2026 | Miller Boise April EVP and Chief Legal Officer | Sale | 40,256 | $4.01M |
| Apr 30, 2026 | Chandrasekaran Nagasubramaniyan EVP, CT & Ops Off, GM Foundry | Option exercise | 33,008 | — |
| Apr 30, 2026 | Chandrasekaran Nagasubramaniyan EVP, CT & Ops Off, GM Foundry | Tax withheld | 13,649 | $1.28M |
| Mar 2, 2026 | GAWEL SCOTT CVP, Chief Accounting Officer | Tax withheld | 1,004 | $45.1K |
| Mar 2, 2026 | GAWEL SCOTT CVP, Chief Accounting Officer | Option exercise | 2,025 | — |
| Mar 2, 2026 | GAWEL SCOTT CVP, Chief Accounting Officer | Tax withheld | 3,897 | $174.9K |
| Mar 2, 2026 | GAWEL SCOTT CVP, Chief Accounting Officer | Option exercise | 7,859 | — |
| Mar 2, 2026 | Chandrasekaran Nagasubramaniyan EVP, CT & Ops Off, GM Foundry | Tax withheld | 24,760 | $1.11M |
| Mar 2, 2026 | Miller Boise April EVP and Chief Legal Officer | Tax withheld | 16,838 | $755.7K |
| Mar 2, 2026 | Chandrasekaran Nagasubramaniyan EVP, CT & Ops Off, GM Foundry | Option exercise | 59,878 | — |
| Mar 2, 2026 | Miller Boise April EVP and Chief Legal Officer | Option exercise | 39,295 | — |
| Mar 2, 2026 | GAWEL SCOTT CVP, Chief Accounting Officer | Tax withheld | 1,199 | $53.8K |
| Mar 2, 2026 | GAWEL SCOTT CVP, Chief Accounting Officer | Option exercise | 2,418 | — |
| Mar 2, 2026 | Miller Boise April EVP and Chief Legal Officer | Tax withheld | 6,940 | $311.5K |
| Mar 2, 2026 | Zinsner David EVP, CFO | Tax withheld | 14,377 | $645.2K |
| Mar 2, 2026 | Miller Boise April EVP and Chief Legal Officer | Option exercise | 16,195 | — |
| Mar 2, 2026 | Zinsner David EVP, CFO | Option exercise | 28,996 | — |
| Mar 2, 2026 | Zinsner David EVP, CFO | Tax withheld | 34,883 | $1.57M |
| Mar 2, 2026 | Zinsner David EVP, CFO | Option exercise | 70,356 | — |
| Feb 2, 2026 | Zinsner David EVP, CFO | Tax withheld | 59,690 | $2.85M |
| Feb 2, 2026 | GAWEL SCOTT CVP, Chief Accounting Officer | Tax withheld | 11,060 | $527.2K |
| Feb 2, 2026 | Miller Boise April EVP and Chief Legal Officer | Tax withheld | 29,855 | $1.42M |
| Feb 2, 2026 | Miller Boise April EVP and Chief Legal Officer | Sale | 20,000 | $981.0K |
| Jan 31, 2026 | Miller Boise April EVP and Chief Legal Officer | Option exercise | 76,705 | — |
| Jan 31, 2026 | Zinsner David EVP, CFO | Option exercise | 126,563 | — |
| Jan 31, 2026 | GAWEL SCOTT CVP, Chief Accounting Officer | Option exercise | 22,052 | — |
| Jan 30, 2026 | Chandrasekaran Nagasubramaniyan EVP, CT & Ops Off, GM Foundry | Tax withheld | 10,637 | $508.1K |
| Jan 30, 2026 | Chandrasekaran Nagasubramaniyan EVP, CT & Ops Off, GM Foundry | Option exercise | 33,007 | — |
| Jan 26, 2026 | Zinsner David EVP, CFO | Purchase | 5,882 | $250.0K |
| Dec 1, 2025 | GAWEL SCOTT CVP, Chief Accounting Officer | Tax withheld | 3,897 | $155.8K |
| Dec 1, 2025 | GAWEL SCOTT CVP, Chief Accounting Officer | Option exercise | 7,860 | — |
| Dec 1, 2025 | GAWEL SCOTT CVP, Chief Accounting Officer | Tax withheld | 1,199 | $47.9K |
| Dec 1, 2025 | GAWEL SCOTT CVP, Chief Accounting Officer | Option exercise | 2,418 | — |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for INTEL CORP
Free account. Everything above stays public.
Write why you follow INTEL CORP and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading
Other companies in Information Technology
Nearest to Intel by market cap among the sector's top 20 companies at Q2 2026.