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Intel Reports Revenue Growth Driven By Internet Of Things And Data Centres

Intel has reported a 9.8% rise in quarterly revenue, with strong growth in its internet of things and data centre operations.

The company posted net revenue in the fourth quarter of $16.4 billion, above analyst estimates of $15.75 billion compiled by Reuters.

In the fourth quarter, revenue for Intel’s internet of things operations rose 16% year-on-year to $726 million, and data centre revenue increased by 8% to $4.7 billion.

“In 2016, we took important steps to accelerate our strategy and refocus our resources while also launching exciting new products, successfully integrating Altera, and investing in growth opportunities,” said Intel CEO Brian Krzanich.

The stronger potential for revenue in other areas has led Intel to shift away from a reliance on the declining PC market. Revenue for Intel’s Client Computing Group, made up primarily by processor sales to computer, smartphone and tablet manufacturers, rose 4% in the fourth quarter year-over-year to $9.1 billion.

Intel told reporters that strong sales of gaming systems during the holiday season had improved their processor revenues.

Following the company’s earnings report, Intel shares rose 2.2% in extended trading.

 

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