We are gaining momentum heading into the second half. Intel 's profits for Q2 2016 were reportedly down 51 % on the same period last year , with $ 1.4bn in restructuring costs associated with the company 's focus shifting to the Internet of Things ( IoT ) and cloud computing cited as a key reason for the fall . Q2 2016 rose 3 % on the last year to $ 13.5bn , in line with expectations , however , data center revenues fell even further than analysts anticipated and IoT revenues only rose 2 % to $ 572 m . Intel predicts that the restructuring will result in $ 1.4bn in savings from 2017 .
Intel 's profits for Q2 2016 were reportedly down 51 % on the same period last year , with $ 1.4bn in restructuring costs associated with the company 's focus shifting to the Internet of Things ( IoT ) and cloud computing cited as a key reason for the fall . Q2 2016 rose 3 % on the last year to $ 13.5bn , in line with expectations , however , data center revenues fell even further than analysts anticipated and IoT revenues only rose 2 % to $ 572 m . Intel predicts that the restructuring will result in $ 1.4bn in savings from 2017 .