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Intel (INTC) Q3 2021 earnings results beat revenue and EPS expectations

Intel also raised full-year guidance on the whole of fiscal 2021 in addition to its revenue and EPS wins.

TJ Denzer

October 21, 2021 1:55 PM

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In 2021, Intel is facing stiffer competition than it has arguably ever faced before in the chip technology industry. Between Apple moving towards proprietary technology with the help of ARM and other major factors, Intel’s major hold on the CPU manufacturing game is being challenged on various sides like never before. However, demand for technology and the products Intel produces are still high, and with that demand, the tech giant was able to put up another winning quarter with the release of its Q3 2021 earnings reports.

Intel released its Q3 2021 earnings results in a press release on its investor relations website on October 21, 2021. In its latest reports, Intel beat Wall Street expectations in both quarterly revenue and earnings-per-share expectations. The company put up a revenue of $19.2 billion USD against an estimated $18.24 billion. It’s earnings-per-share were also a little over 55 percent higher than expected, coming in at $1.71 versus an estimate of $1.1. The strong finish has pushed Intel to raise its guidance on EPS for the entirety of fiscal 2021, moving to an estimated $5.28 EPS (Non-GAAP) versus the previously estimated $4.79.

Intel’s estimations aren’t without risks as it points out in its Forward Looking Statements section. The company expects there are a number of factors that could negatively influence its estimations. In particular, the effects of the COVID-19 pandemic and shipping issues continue to keep Intel from operating at full capacity and could feasibly grow worse. Similar challenges were also reported in Tesla’s recent earnings results. Moreover, the ongoing semiconductor famine also puts pressure on Intel’s resources which could affect its ongoing production.

Nonetheless, Q3 2021 was another winning quarter for Intel for the most part and the company foresees it will continue to move towards a winning finish for the fiscal year. Stay tuned to the rest of our reporting as more companies report on their Q3 2021 finishes.

TJ Denzer

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.