Intel Stock Plunges About 23% After Hours as a Weak Outlook Overshadows a Q3 Beat

Intel had its best data center growth in 15 years, but a forecast that points to a longer PC slump sent the stock sharply lower.

Why did Intel stock fall so much after earnings?

Intel (INTC) beat third-quarter estimates on Thursday, Oct. 29, 2026, but forecast fourth-quarter revenue of $15.0 billion to $16.0 billion, below analyst expectations of about $17 billion. It also said the PC slowdown should last at least through the first half of next year. The stock fell about 23% after hours.

Intel posted its third-quarter results at 4:01 p.m. Eastern, right after the market closed. The shares had already slipped about 3.7% in the regular session to close near $92, according to MarketBeat. After the report, the drop deepened through the evening. StockTitan data show Intel 17.60% lower at 4:25 p.m. ET, 23.32% lower at 7:09 p.m. ET and 23.01% lower at its last trade before 8 p.m. ET, each compared with the regular-session close.

How did Intel do in the third quarter?

The quarter itself was better than expected. Revenue rose 21% to $16.5 billion, roughly in line with estimates of about $16.5 billion. Adjusted earnings, which leave out certain one-time and noncash costs, were 52 cents a share, up from 23 cents a year earlier and above forecasts of about 40 to 41 cents, based on estimates from MarketBeat and TradingKey. On a standard accounting basis, Intel earned 60 cents a share, down from 90 cents.

Gross margin, the share of sales left after the direct cost of making chips, improved to 44.1% on an adjusted basis from 40.0% a year earlier. Operating cash flow was $5.1 billion.