Intel Corp. (NASDAQ:INTC) reported its third-quarter fiscal 2026 results after Thursday's closing bell, and the headline numbers were actually pretty good. The guidance that came with them? Not so much.

The Numbers That Beat

Intel reported quarterly earnings of 52 cents per share, which beat the consensus estimate of 40 cents by 30%, according to market data. Quarterly revenue came in at $16.51 billion, which beat the Street estimate of $16.47 billion.

So far, so fine. Then came the forward look.

The Guidance That Hurt

Intel expects fourth-quarter adjusted EPS of 25 cents, versus the 43 cent analyst estimate. Revenue is guided to a range of $15 billion to $16 billion, versus the $17.05 billion estimate. That gap is what moved the stock.

CEO Lip-Bu Tan framed the quarter as a story of progress mixed with near-term pressure.

"Our Q3 results demonstrate improving execution, meaningful progress expanding supply and continued advancement of our process technology," Tan said.

"Despite near-term headwinds across the PC industry, demand for our CPUs remains robust, reinforcing our confidence in the long-term growth opportunities for our business. Our immediate priority is to unlock additional supply to meet extraordinary demand for our Xeon family, while strengthening our product portfolio and roadmap," Tan said.

"We are moving with urgency and focus to capitalize on these opportunities to deliver sustainable growth and long-term shareholder value," he added.

Where The Stock Stands

According to market data, Intel stock was down 16.53% to $76.85 in Thursday's extended trading.