Intel Data Center Revenue Jumps 78%, but Weak Q4 Guidance Drags Stock Down
Intel shares fell roughly 29% on Friday to $65.76 after the company's fourth-quarter outlook came in well below Wall Street expectations.
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Intel's stock dropped roughly 29% to $65.76 on Friday following the company's fourth-quarter guidance, marking the worst trading day since the 1970s. The decline came despite strong third-quarter results, with total revenue reaching $16.5 billion, up 21% year over year, and adjusted earnings per share of $0.52 beating analyst expectations of around $0.40. Data Center and AI revenue surged 78% to $7.3 billion, though Client Computing Group revenue fell 5% to $8.1 billion.
The stock's sharp decline reflected investor concerns about forward guidance. Intel projected fourth-quarter revenue between $15 billion and $16 billion, below the consensus estimate of approximately $17 billion, with adjusted EPS of just $0.25. Non-GAAP gross margin is expected to contract to about 38% from 44% in the third quarter.
The company attributed part of the revenue shortfall to a plant shutdown in Israel. Intel's leadership indicated weakness in the personal computer market will persist through at least the first half of next year, with expectations for the PC market to shrink by approximately 12% in units this year and another 10% decline in 2027.
What happened
Intel shares fell roughly 29% on Friday to $65.76 after the company's fourth-quarter outlook came in well below Wall Street expectations. According to CNBC, it was the stock's worst day since the 1970s. Intel had closed at $92.07 on Thursday, right before it posted its third-quarter 2026 results. Oddly enough, the quarter itself was a good one. Revenue came in at $16.5 billion, up 21% year over year, and adjusted EPS of $0.52 easily beat the roughly $0.40 analysts were expecting. Data Center and AI revenue jumped 78% to $7.3 billion, while the Client Computing Group slipped 5% to $8.1 billion. Intel expects revenue between $15 billion and $16 billion, against a consensus of around $17 billion, with adjusted EPS of just $0.25.
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