Intel shares rise as chipmaker swings to profit

Intel is back to being a profitable company.

Shares of the beleaguered chipmaker rose in extended trading Thursday, after the company turned a profit that beat analysts’ estimates.

Intel reported adjusted earnings of 23 cents per share for the third quarter, compared with a loss in the prior quarters and a year ago, and well above the 2 cents per share that analysts had expected. Its revenue rose 3% year over year to $13.7 billion, also beating expectations compiled by Visible Alpha.

CEO Lip Bo Tan, who took over in March this year, said the results showed Intel’s “steady progress” in its transformation, with demand for AI helping to create “attractive opportunities” across its portfolio.

“We took purposeful steps this quarter to strengthen our balance sheet, including accelerated financing from the U.S. government and investments by NVIDIA and SoftBank Group that increase our operational flexibility and demonstrate the critical role we play in the ecosystem,” CFO David Zinsner said, adding that he sees demand for Intel products outpacing supply through 2026.

Looking ahead, Intel said it expects adjusted earnings of 8 cents per share in the fourth quarter on revenue of $12.8 billion to $13.8 billion, roughly in line with analysts’ expectations.

Intel shares jumped more than 8% in after-hours trading following the release. They were up 90% for 2025 through Thursday’s close after a months-long rally on a series of high-profile trades.

Correction: This article has been updated since it was first published to reflect Intel’s fourth-quarter forecasts, which were in line with analyst estimates.