Intel stock soars on revenue beat, Q4 outlook

Intel (INTC) reported a third quarter adjusted loss per share of $0.43. In the release, the company states it saw a "$(0.63) impact to non-GAAP EPS attributable to Intel from $3.1 billion of impairment charges." The chip giant reported revenue of $13.28 billion compared to the Bloomberg consensus estimate of $13.02 billion.

For Q4, Intel sees adjusted earnings per share of $0.12 versus a $0.06 estimate and revenue in a range of $13.3 billion to $14.3 billion. Wall Street was expecting $13.63 billion.

Yahoo Finance Senior Reporters Alexandra Canal and Jared Blikre break down Intel's results in the video above.

To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.

This post was written by Stephanie Mikulich.

Video Transcript

Third quarter earnings just crossing.

We're seeing shares surging up more than 10% on the back of this report.

Now, third quarter revenue coming in ahead of estimates, 13.28 billion.

The estimate was for just over 13 billion.

We saw in third quarter adjusted loss per share of 46 cents versus the expected 41.

I'm sorry.

The 41 cents was a year over a year prior, so kind of losses continue to accelerate.

This is the company that we've seen the turnaround story, the top of mind for investors in CEO P Ginger saying that this distinct but better together is the strategy here.

So as we see this in line forecast during this overall rebuilding plan, it looks like a better than feared viewpoint from it was a low bar and they've cleared that.

They've stepped over it.

Let's take a look.

I'm going back to the fourth quarter forecast here seeing revenue of 13.3 to 14.3 billion.

Now that, uh, the estimate was just, uh was at the low end of that range.

So 13.63 billion and then the low end of the range was 13.3 again, the upper range was 14.3.

So they beat that.

Then they're seeing adjusted EPS of 12 cents versus the estimate 6.3 cents and they're seeing adjusted gross margin of 39.5% estimate was 38.7%.

So you put it all together and they're beating some of these metrics.

And if I can go to the Wi Fi Interactive, I'm just gonna chart real quickly the year to day price action.

Uh, just a reminder.

This is a company that's going through a tough turnaround down 57% year to date.

Here is the last five years, and you can see they have plum been plumbing new lows here and on a max.

They are basically back to territory where they were about 10 years ago.

So this has been difficult, but they're trying to find the bottom right now.

And, uh, is this it hard to say, But this is going to be maybe just that one little increment forward in that direction.

Once again, guidance as we're seeing with all these tech companies, that's been very, very important for investors.

I want to call out the data centre and A I revenue beating expectations 3.35 billion and the estimate there was for 3.1 billion.

Now Pat Gelsinger did say he intends to keep the company together.

Big question, of course, moving forward is, You know what?

What is this strategy?

What is this?

Go forward strategy for this company, but and be sure to tune into Yahoo Finance later because we will be speaking with Pat Gelsinger, the Intel CEO.

That interview will be airing tomorrow at 9 a.m. Eastern.