Intel blows past estimates, recording fastest sales growth in almost 15 years on 'unprecedented' demand

Intel reported better-than-expected second-quarter results on Thursday, notching its fastest revenue growth rate for any quarter since 2011 and issuing guidance that topped expectations. The stock rose in extended trading.

Here's how the chipmaker did versus LSEG consensus estimates

• Earnings per share: 42 cents, adjusted, versus 21 cents expected
• Revenue: $16.1 billion, versus $14.42 billion expected

Intel shares are up over 170% so far in 2026 as of Thursday's close after soaring 84% last year, when the U.S. government took a 10% stake in the company as part of an effort to support U.S. chip manufacturing. However, the stock has been in a slump more recently, dropping 28% in July.

Despite the recent downturn, the company is getting a boost from the artificial intelligence infrastructure boom, which is helping sales of its server processors. Intel's 25% revenue growth was the fastest for any quarter since the third quarter of 2011.

"AI is driving unprecedented demand for compute," CEO Lip-Bu Tan said in the statement. "As we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise."

For the current quarter, Intel said it expects adjusted earnings per share of 38 cents on revenue between $15.8 billion and $16.8 billion. Analysts were expecting revenue of $15.1 billion and EPS of 27 cents, according to LSEG.

Intel said it's boosting its capital expenditures, targeting a "meaningful increase" next year, as it aggressively tries to morph into a manufacturer of chips for other companies. CFO David Zinsner told CNBC's Kristina Partsinevelos that the company's latest manufacturing process, called 14A, is ahead of where older technologies were at the same point in the cycle.