INTC · Intel · Q3 FY2026
Intel Widens Margins as Revenue Growth Slows
Revenue growth moderated to 20.9% from 25.4%, and operating margin widened 1027 basis points to 15.3%.
- Published
- Oct 30, 2026
- Event
- Oct 29, 2026
- Quarter ended
- Sep 26, 2026
- Data as of
- Oct 30, 2026
Published becauseQuarterly results were reported (Oct 29, 2026).
The Blockhaven read
Intel earned a wider margin on slower growth: revenue growth moderated to 20.9% from 25.4%, while operating margin widened 1027 basis points to 15.3%. Profit is improving without help from faster sales; the company's own explanation, if any, is in its filing's discussion of results, which Blockhaven does not summarise here. One quarter cannot show whether the wider margin can last if growth slows further.
Latest reported quarter
13-week quarter · Earnings release filed Oct 29, 2026
RevenueGAAP
- Latest
- $16.5 billion
- Year ago
- $13.7 billion
- Change
- +20.9% (Up year over year)
Operating incomeGAAP
- Latest
- $2.52 billion
- Year ago
- $683 million
- Change
- +269.3% (Up year over year)
Net incomeGAAP
- Latest
- $3.32 billion
- Year ago
- $4.06 billion
- Change
- −18.3% (Down year over year)
Diluted EPSGAAP
- Latest
- $0.60
- Year ago
- $0.90
- Change
- −33.3% (Down year over year)
Operating margin (GAAP)Derived
- Latest
- 15.3%
- Year ago
- 5.0%
- Change
- +1027 bp (Up year over year)
Gross margin (GAAP)Derived
- Latest
- 43.0%
- Year ago
- 38.2%
- Change
- +475 bp (Up year over year)
| Measure | Basis | Latest quarter | Year ago | Change |
|---|---|---|---|---|
| Revenue | GAAP | $16.5 billion | $13.7 billion | +20.9% (Up year over year) |
| Operating income | GAAP | $2.52 billion | $683 million | +269.3% (Up year over year) |
| Net income | GAAP | $3.32 billion | $4.06 billion | −18.3% (Down year over year) |
| Diluted EPS | GAAP | $0.60 | $0.90 | −33.3% (Down year over year) |
| Operating margin (GAAP) | Derived | 15.3% | 5.0% | +1027 bp (Up year over year) |
| Gross margin (GAAP) | Derived | 43.0% | 38.2% | +475 bp (Up year over year) |
Revenue growth +20.9% against +25.4% in the prior quarter (year over year, GAAP).
Trend: Mixed. Revenue growth slowed, operating margin widened and GAAP operating income improved.
GAAP unless labelled. Non-GAAP and company-defined measures are labelled.
What changed
- Revenue growth slowed to 20.9% from 25.4%.
- Operating margin widened 1027 basis points year over year, to 15.3% from 5.0% (GAAP).
- GAAP operating income rose 269.3% year over year while net income fell 18.3% and diluted EPS fell 33.3%.
Why it matters
Operating income grew 269.3% on 20.9% revenue growth: the margin change accounts for the difference between the two rates.
Net income fell while operating income rose: the difference sits below the operating line.
Market reaction
At 8:15 AM ET on Oct 30, 2026, the quoted share price was down 25.2% from the prior close. This is a timed price observation, not an explanation of the move.
What to watch
- Operating margin at the next report against 15.3% this quarter: a further move in the same direction would confirm this reading, and a reversal would weaken it.
- Year-over-year revenue growth against 20.9% now and 25.4% before: a stabilisation would ease the tension with the outlook, and a further slowdown would sharpen it.
Data and sources
Figures come from the company's SEC filings and its own 8-K earnings release, filed Oct 29, 2026. GAAP figures are labelled as such. Blockhaven used no outside forecasts, so no figure here is measured against market expectations.
Descriptive company facts. Not investment advice, a rating or a recommendation.