Intel's third-quarter profit exceeded expectations, and its stock price rose 7% in after-hours trading

Intel's third-quarter profits exceeded expectations, with CEO Pat Gelsinger significantly cutting costs and the company securing external investments, thereby strengthening its financial position. Intel's stock price rose 7% in after-hours trading. This is the company's first earnings report following billions of dollars in investments from Nvidia and SoftBank (9984.T), as well as unprecedented equity participation from the U.S. government. Intel's Chief Financial Officer Dave Zinsner stated in an interview that the company received funding from SoftBank in the third quarter but has not yet received funds from Nvidia. Zinsner noted that demand for Intel chips in the third quarter was so strong that the company faced supply constraints. He mentioned that one factor is that data center operators have realized they need to upgrade their CPUs to keep pace with advanced artificial intelligence chips. Intel's adjusted gross margin for the third quarter was 40%, exceeding the expected 35.7%, and adjusted earnings per share were 23 cents, also surpassing the estimated 1 cent. Intel forecasts fourth-quarter revenue between $12.8 billion and $13.8 billion, with a midpoint of $13.3 billion, while analysts' average expectation is $13.37 billion. Zinsner indicated that Intel plans capital expenditures of $27 billion for 2025 and $17 billion for 2024