Intel Q3 Beats Estimates; Government Funding Raises Questions

Intel reported third-quarter revenue of about $13.6–13.7 billion and adjusted EPS of $0.23, beating Wall Street estimates and swinging back to profit. Shares rose roughly 7–8% in after‑hours trading as executives credited stronger PC and AI-driven chip demand and recent investments and financing from the U.S. government, Nvidia and SoftBank amid a turnaround under CEO Lip‑Bu Tan. Intel said it received about $5.7 billion from the U.S. government in the quarter but warned the accounting treatment of the government's share purchase and escrowed shares is without strong precedent, is subject to SEC guidance, and could lead to later revisions. The company guided fourth‑quarter adjusted EPS of $0.08 and a revenue midpoint near $13.3 billion (guidance excludes Altera), saying the outlook is roughly in line with or slightly below some analyst expectations.