Chip giant Intel has reported fourth quarter revenues of $16.4bn, up from $14.9bn last year. Revenues from IoT are starting to kick in, with 16pc growth in revenues from the new category.
The technology giant, which employs more than 4,000 people in Ireland, is finding that its bet on internet of things (IoT) is starting to pay dividends.
The company’s IoT division has reported 16pc year-on-year growth.
‘The fourth quarter was a terrific finish to a record-setting and transformative year for Intel’
– BRIAN KRZANICH
Intel’s revenues from non-volatile memory also were up by 25pc year-on-year, to $816m.
Intel’s Client Computing Group saw revenues up by 4pc, to $9.1bn, while its Data Center Group reported an 8pc surge in revenues to $4.7bn.
Intel Security Group reported revenues of $500m, up 9pc, while its Programmable Solutions Group reported revenues of $1.7bn for the fourth quarter.
Restructure and refocus pays dividends for Intel
“The fourth quarter was a terrific finish to a record-setting and transformative year for Intel,” said Brian Krzanich, Intel CEO.
“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.
“I’m pleased with our 2016 performance and confident in our future.”
The strong results signal something of a turnaround for Intel, which last year began a major restructure that resulted in the reduction of staff by 12,000.
The company said it was shifting its focus from PCs to chips for data centres and IoT.