Intel (INTC) earnings report Q2 2026

Intel reported better-than-expected second-quarter results on Thursday, notching its fastest revenue growth rate for any quarter since 2011 and issuing guidance that topped expectations.

Here’s how the chipmaker did versus LSEG consensus estimates

• Earnings per share: 42 cents, adjusted, versus 21 cents expected
• Revenue: $16.1 billion, versus $14.42 billion expected

Shares of the chipmaker climbed immediately following the report, but sank during trading on Friday.

Intel shares are up over 170% so far in 2026 as of Thursday’s close after soaring 84% last year, when the U.S. government took a 10% stake in the company as part of an effort to support U.S. chip manufacturing. However, the stock has been in a slump more recently, dropping 28% in July.

Despite the recent downturn, the company is getting a boost from the artificial intelligence infrastructure boom, which is helping sales of its server processors. Intel’s 25% revenue growth was the fastest for any period in almost 15 years.

“AI is driving unprecedented demand for compute,” CEO Lip-Bu Tan said in the statement. “As we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise.”

For the current quarter, Intel said it expects adjusted earnings per share of 38 cents on revenue between $15.8 billion and $16.8 billion. Analysts were expecting revenue of $15.1 billion and EPS of 27 cents, according to LSEG.

Intel also said it’s starting to craft long-term agreements with customers for its server CPUs, some with pricing locked in and others focused on chip volume.

It’s a move that’s becoming common, particularly in memory, as vendors try to preserve current high pricing and market power in case the AI market turns. Intel said it had reached 10 long-term agreements, and CFO David Zinsner said the company is supply constrained, with data center customers demanding more than it can produce. 

“Customers continue to signal a strong and sustainable spending environment,” Zinsner said on an earnings call with analysts.

Revenue in the company’s client computing group, which makes chips for PCs, rose 13% to $8.9 billion. It’s still Intel’s biggest unit, but the robust growth is coming from its data center business, where revenue rose 59% to $6.3 billion. Intel said it expects flat PC sales in the third quarter because of the memory shortage. 

Intel is boosting its capital expenditures, targeting a “meaningful increase” next year, as it aggressively tries to morph into a manufacturer of chips for other companies. Zinsner told CNBC’s Kristina Partsinevelos that the company’s latest manufacturing process, called 14A, is ahead of where older technologies were at the same point in the cycle. Intel said its foundry reported $5.8 billion in sales, up 31% on an annual basis. 

“I did want to give investors at…