During its latest earnings statement, Intel has revealed that its “data-centric” chips now make up close to half of its business as its PC-centric client computing group's revenues slow.
For the quarter that ended on June 30, the chipmaker said that its PC focused business grew by six per cent compared to the same period last year. However, its data-centric business, which includes the data centre group, internet of things group, programmable solutions group and the memory group, all grew at a much faster rate ranging from 18 per cent to 27 per cent.
In total, Intel's data-centric revenue was up by 26 per cent which was down from five years ago when its data centre and cloud computing divisions made up a third of the company's revenue.
The company reported non-GAAP earnings per share of $1.04, beating analyst expectations. Intel earned $17bn in revenue during the quarter which was up by 15 per cent from a year earlier with $69.5bn in total revenue now expected for the full year.
Data centre revenue brought in $5.5bn this quarter though client computing was still the chipmaker's biggest group with $8.7bn in revenue. The IoT group earned $880m while the memory group brought in $1bn and the programmable solutions group accounted for $517m.
Intel has been without a CEO after Brian Krzanich stepped down following an incident in which he violated the firm's non-fraternization policy. Chief financial officer Robert Swan is now serving as interim CEO while a replacement is found.
Image Credit: Michael Moore