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 firm's focus shifting to the Internet of Things (IoT) and cloud computing cited as a key reason for the fall. Intel Security is therefore a key asset for the company that could help recoup the $7.7bn acquisition cost or even more if the right buyer can be found. Q2 revenues rose 3% on the last year to $13.5bn, in line with expectations, however, data centre revenues fell even further than analysts anticipated and are expected to fall by another 2% this year. 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 firm's focus shifting to the Internet of Things (IoT) and cloud computing cited as a key reason for the fall. Q2 revenues rose 3% on the last year to $13.5bn, in line with expectations, however, data centre revenues fell even further than analysts anticipated and are expected to fall by another 2% this year. Intel predicts that the restructuring will result in $1.4bn in savings from 2017.