Meltdown avoided: Intel rediscovers profitability
Intel's Datacenter and AI and Client Computing Group fared better, but still saw revenues decline 15 percent and 12 percent year over year to $4 billion and $6.8 billion, respectively.
In contrast to last quarter, the future is looking good for the pair. CCG revenues grew $1 billion sequentially, spurred by healthier desktop sales, and DCAI grew by $300 million. According to Zinsner, both divisions should rebound in the second half of the year as inventories normalize over the next few months.
Mobileye, the chipmaker's autonomous vehicle unit, wasn't immune to market forces either and saw revenues slip one percent year over year to $454 million. Intel expects the downturn to be short-lived, however: Zinsner projected that the division will return to year-over-year growth in the third quarter.
IFS was a small, if bright, spot in an otherwise challenging quarter for Intel. The division raked in $232 million, marking a 307 percent year-on-year increase on $57 million last year. Zinsner noted this rise in revenues was down to sealing extra packaging deals and higher sales of IMS Nanofabrication tools. As we reported last month, Intel hasIFS is likely to play a larger role in the silicon slinger's earnings as it pushes ahead with fab projects in Arizona, Ohio, and Europe.
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