News Summary

• First-quarter revenue was $13.6 billion, up 7% year-over-year (YoY).
• First-quarter earnings (loss) per share (EPS) attributable to Intel was $(0.73); non-GAAP EPS attributable to Intel was $0.29.
• Forecasting second-quarter 2026 revenue of $13.8 billion to $14.8 billion; expecting second-quarter EPS attributable to Intel of $0.08 and non-GAAP EPS attributable to Intel of $0.20.

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intel Corporation today reported first-quarter 2026 financial results.

“The next wave of AI will bring intelligence closer to the end user, moving from foundational models to inference to agentic. This shift is significantly increasing the need for Intel’s CPUs and wafer and advanced packaging offerings,” said Lip-Bu Tan, Intel CEO. “With a solid foundation in place, we are addressing this opportunity by listening to our customers and driving their success with our technical expertise and differentiated IP. This deliberate reset to how we operate drove a sixth consecutive quarter of revenue above our expectations, as well as new and deepened relationships with strategic partners.”

“We delivered robust Q1 results, reflecting the growing and essential role of the CPU in the AI era and unprecedented demand for silicon, as well as our disciplined execution to expand available supply,” said David Zinsner, Intel CFO. “We remain focused on maximizing our factory network to improve available supply and meet our customers’ needs throughout the year.”

Q1 2026 Financial Results

In the first quarter, the company generated $1.1 billion in cash from operations.

Business Unit Summary

The comparability of our Consolidated Condensed Financial Statements YoY was impacted by the deconsolidation of Altera. Altera, which was previously a wholly owned subsidiary, was deconsolidated from our Consolidated Condensed Financial Statements effective September 12, 2025, following the closing of the sale of 51% of Altera's issued and outstanding common stock. Altera's financial results of operations were included in our Consolidated Condensed Financial Statements, within the "all other" business unit category, through September 11, 2025.

Business Highlights

• Intel expanded its client portfolio, launching Intel^® Xeon^® 600 processors for workstation, Intel^® Core^® Ultra 200S Plus and Intel^® Core^® Ultra 200HX Plus processors for desktop and mobile, Intel^® Core^™ Series 2 processors for health and life sciences edge computing, and Intel^® Core^™ Ultra Series 3 processors with Intel vPro^®. Intel also launched Intel^® Core™ Series 3 processors, bringing Intel 18A and the latest IP, modern features, and all-day battery life to the mainstream for the first time.
• Intel and Google announced a multiyear collaboration for continued deployment of Intel^® Xeon^® processors across Google’s workload-optimized instances, including the latest Intel^® Xeon^® 6 processors powering C4 and N4 instances. The collaboration also includes co-development of custom ASIC infrastructure processing units (IPUs) designed to improve utilization, reduce complexity, and scale AI workloads more efficiently.
• Intel Xeon 6 was selected as the host CPU for NVIDIA’s DGX Rubin NVL8 systems, reinforcing Intel’s continued role at the center of leading AI infrastructure deployments.
• Intel and SambaNova announced the blueprint for a heterogeneous hardware solution, addressing performance, efficiency, and software compatibility challenges facing enterprises and cloud providers. The design will combine GPUs, SambaNova RDUs, and Intel^® Xeon^® 6 processors as the host and action CPUs.
• Intel joined the Terafab project as a strategic partner alongside SpaceX, xAI, and Tesla. Intel’s ability to design, fabricate, and package ultra-high-performance chips at scale will help accelerate efforts to refactor silicon fab technology.
• Intel Foundry expanded assembly and test capacity in Penang, Malaysia to support customer products amid rising global demand for packaging solutions while increasing global semiconductor supply chain resilience.
• Intel repurchased the 49% minority equity interest in the joint investment entity related to Fab 34 in Ireland. The agreement reflects Intel’s continued business momentum underpinned by the growing and essential role CPUs play in the era of AI and a significantly strengthened balance sheet.

Business Outlook

Intel's guidance for the second quarter of 2026 includes both GAAP and non-GAAP estimates as follows:

Reconciliations between GAAP and non-GAAP financial measures are included below. Actual results may differ materially from Intel’s business outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below. The gross margin and EPS outlooks are based on the midpoint of the revenue range.