Intel Corporation (INTC) Earnings Call Transcripts

Intel Corporation's Latest Earnings Call - Q2 FY2026

In Q2 2026, Intel Corporation reported revenue of $16.1 billion, exceeding guidance by $1.8 billion, and non-GAAP earnings per share of $0.42, significantly above the $0.20 guidance. The company highlighted strong demand for its products, particularly in AI-driven businesses, which grew over 70% year-over-year and accounted for approximately 70% of total revenue. Management raised its CapEx outlook for 2026 to over $20 billion, reflecting confidence in sustained demand despite ongoing supply constraints in the semiconductor industry.

Reported metrics

Guidance from management

Intel expects Q3 revenue to range between $15.8 billion and $16.8 billion, with a gross margin forecast of 42%. The company anticipates strong double-digit unit growth in server CPUs extending into 2028.

What management said

Yes. I mean longer term, I think we'd expect that to be some of the fall-through somewhere in the 40% to 60% range. I mean every quarter has got unique dynamics to them that affect whether you're at the low end of that range or at the high end of the range or at the midpoint. But I think it's a good -- relatively good rule of thumb for us.

Growth rates of ASICs. I mean I would say that today, we're probably running at about a $2 billion run rate or at least approaching a $2 billion run rate for that business. We think in the not-too-distant future, we'll be at a $4 billion run rate for that business. So I think that probably gives you a good sense. And we think that Lip-Bu mentioned the $100 billion TAM, we think we deserve a good chunk of that given o...

What analysts pressed on

Analysts expressed concerns about the sustainability of demand given the ongoing supply constraints and the potential impact on future revenue. There were questions regarding how Intel plans to regain market share in the server space amidst competitive pressures from AMD and ARM.

Main topics on the call

• Revenue Growth and Demand — Intel's Q2 revenue of $16.1 billion marked the strongest growth in over 15 years, driven by robust demand for AI products. CEO Lip-Bu Tan stated, "Strong demand for our products continue to outpace our growing supply."
• AI Business Performance — AI-driven businesses grew over 70% year-over-year, contributing significantly to revenue growth. CFO David Zinsner noted, "DCAI revenue was $6.3 billion, an increase of 24% sequentially and 59% year-over-year, meaningful...
• CapEx Increase — Intel raised its CapEx outlook for 2026 to over $20 billion, indicating confidence in future demand. Zinsner stated, "We are investing a significant amount in tooling," which is essential for meeting customer needs.
• Supply Constraints — Management acknowledged ongoing supply constraints that continue to impact the industry, particularly in wafers and memory. Zinsner remarked, "Despite exceeding our expectations for wafer outs, strengthening demand conti...

Read the full Intel Corporation transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 149 Intel Corporation earnings call transcripts on record, spanning January 7, 2020 to July 23, 2026. Based on this history, Intel Corporation reports quarterly. The most recent call on file is dated July 23, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

INTC

Exchange

NasdaqGS

Country

US

Sector

Information Technology

Industry

Semiconductors and Semiconductor Equipment

Calls on record

149

First call

January 7, 2020

Most recent

July 23, 2026

Reporting cadence

quarterly