Intel Corporation (INTC) saw its stock jump as much as 7% in after-hours trading Thursday<\/strong> after the chipmaker delivered third-quarter results that exceeded Wall Street expectations, signaling early progress in its turnaround efforts under new CEO Lip-Bu Tan<\/strong>.<\/p>\n\n\n\n The company reported $13.7 billion in revenue<\/strong> for the quarter ended September 27, surpassing analyst estimates of $13.15 billion<\/strong> and marking a modest increase from $13.28 billion<\/strong> a year earlier. Adjusted earnings per share came in at $0.23<\/strong>, sharply beating Wall Street\u2019s projection of just $0.01<\/strong>. This performance represents a significant recovery from the $0.46 per share loss<\/strong> Intel reported during the same period in 2024.<\/p>\n\n\n\n CEO Tan credited the rebound to the surge in artificial intelligence (AI)<\/strong> demand, saying, \u201cAI is accelerating demand for compute and creating attractive opportunities across our portfolio.\u201d<\/em> Intel\u2019s head of investor relations, John Pitzer<\/strong>, echoed the sentiment, adding that the company is \u201cwell-positioned to play a more significant role in AI.\u201d<\/p>\n\n\n\n Despite the upbeat results, Intel\u2019s fourth-quarter outlook<\/strong> disappointed some analysts. The company forecast adjusted EPS of $0.08<\/strong> and revenue around $13.3 billion<\/strong>, slightly below consensus estimates. Intel noted that these projections exclude potential contributions from Altera<\/strong>, a semiconductor subsidiary that was partially divested during the quarter.<\/p>\n\n\n\n Intel\u2019s Q3 performance follows major investments that have strengthened its balance sheet \u2014 including a 9.9% U.S. government stake<\/strong> and a $5 billion investment from Nvidia<\/strong>, representing a 4% ownership share. However, concerns persist around Intel\u2019s Foundry Services division<\/strong>, which posted a $2.3 billion operating loss<\/strong>, narrower than last year\u2019s $5.8 billion loss but still significant.<\/p>\n\n\n\n While Intel\u2019s resurgence in profitability and AI momentum have reinvigorated investor confidence, analysts warn that its long-term success will depend on restoring competitiveness in advanced chip manufacturing and attracting third-party customers to its foundry business.<\/p>\n\n\n\n