IoT 's profits for Q2 2016 were reportedly down 51% on the same period last year , with $ 1.4bn in restructuring costs associated with the firm's focus shifting to the Internet of Things (IoT) and cloud computing cited as a key reason for 2017 . Intel has reported revenue of $13.5bn, 3% up from a year ago, but profit for the latest quarter was down 51% to $1.3bn, mainly due to restructuring costs of $1.4bn. Q2 revenues rose 2% on the last year to $ 13.5bn , in line with expectations, however, data centre revenues fell even further than analysts anticipated and Intel revenues only rose 51% to $572m . Intel predicts that the restructuring will result in $ 1.4bn in savings from 2017 .
IoT 's profits for Q2 2016 were reportedly down 51% on the same period last year , with $ 1.4bn in restructuring costs associated with the firm's focus shifting to the Internet of Things (IoT) and cloud computing cited as a key reason for 2017 . Q2 revenues rose 2% on the last year to $ 13.5bn , in line with expectations, however, data centre revenues fell even further than analysts anticipated and Intel revenues only rose 51% to $572m . Intel predicts that the restructuring will result in $ 1.4bn in savings from 2017 .