Intel forecasts Q4 revenue and profit below estimates as PC slowdown persists
INTC•Intel forecast fourth-quarter revenue of $15 billion to $16 billion and adjusted EPS of $0.25, below estimates of $17.07 billion and $0.43, respectively. It said the PC slowdown could continue through at least the first half of 2027.
1. Quarterly results
Third-quarter revenue rose 21% year over year to $16.50 billion, slightly above the $16.47 billion estimate. Adjusted EPS was $0.52, more than double the year-earlier level.
2. Fourth-quarter outlook
Intel forecast fourth-quarter adjusted gross margin of 38.0%. CEO Lip-Bu Tan said revenue growth was driven by expanded supply and improved execution, while CFO David Zinsner said data center revenue had its strongest growth in 15 years.
3. PC business weakness
Client Computing and Physical AI revenue fell 5% to $8.1 billion. Intel said the PC slowdown could last at least through the first half of 2027, and its shares fell about 20% in extended trading.
