Intel posted revenue of $13.7 billion in the third quarter of 2025, up three percent from a year earlier. This means the company performed slightly better than expected.
Net profit came in at $4.1 billion, or $0.90 per share according to GAAP accounting. On a non-GAAP basis, earnings per share were $0.23.
The quarter marks the fourth consecutive period of improvement since the reorganization that began in early 2024. According to the company, the results reflect a recovery in the PC market and more stable production of x86 processors.
Government as largest shareholder
The figures relate to the first quarter in which the US government is Intel’s largest shareholder. This represents a stake of approximately ten percent. The investment is part of an $8.9 billion package of support for the expansion of semiconductor production in the United States.
In August, the government purchased more than 433 million shares at a price of $20.47 per share. The transaction is part of a broader collaboration between Intel and the US government to strengthen advanced chip manufacturing capacity within the US.
Intel received $5.7 billion from this agreement in the third quarter. The company acknowledges that the accounting treatment of the government funding is complex and that consultations are ongoing with the US Securities and Exchange Commission (SEC). Due to the ongoing government shutdown, these consultations have not yet been completed. Intel warns that the reported figures may be adjusted at a later date.
CNBC reports that, when the share transfer to the government is fully taken into account, the quarter would amount to a loss of $0.37 per share. That figure differs from the official profit reported by Intel itself.
Collaboration with Nvidia and reorganization
In addition to government funding, Intel is also receiving private capital. Nvidia invested $5 billion in the company as part of a new collaboration in which the companies will integrate their respective CPU and GPU technologies for data centers and PCs. SoftBank also invested $2 billion in Intel.
The Client Computing Group, responsible for PC and laptop chips, saw revenue increase by five percent to $8.5 billion. The data center and AI division declined slightly, by one percent to $4.1 billion. Intel hopes that the collaboration with Nvidia will contribute to recovery in that segment.
The foundry division, which produces chips for both internal and external customers, reported revenue of $4.2 billion, two percent less than last year. According to CNBC, this revenue currently comes entirely from internal production.
The number of employees fell sharply, from over 124,000 a year ago to 88,400 now. The company cites the reorganization and sale of business units such as Altera as the main reasons.
Outlook
For the fourth quarter, Intel expects revenue between $12.8 billion and $13.8 billion, with non-GAAP earnings per share of $0.08. This expectation is in line with analysts’ estimates.
The company states that demand for chips exceeds current supply and expects this shortage to continue until 2026.