Although it’s pretty difficult for established IT companies to change their core businesses, Intel is trying pretty hard for last couple of years. Interestingly, in the latest financial report, the company revealed that only 53 percent of the company’s revenue came from its PC businesses with company’s data centric operations accounting for rest of the revenue.
In an official statement, Intel’s CFO, Bob Swan noted, “Intel’s PC-centric business continued to execute well in a declining market while the growth of our data-centric businesses shows Intel’s transformation is on track.”
While we will have to wait to see what happens in the coming years, if the growth of Intel’s data centric businesses continues as expected, we can expect the company to successfully enter other markets.
For instance, although Mobileye only added $128 million to the fourth quarter revenues, it makes Intel’s Automated Driving Group one of the biggest players in the growing autonomous market. As other divisions are becoming significantly profitable, it’s likely that Intel’s goal of entering other markets will be successful in the coming years.
As for now, Intel has increased its revenue target for 2018 from $62.2bn to $65bn despite the latest effects of Spectre and Meltdown vulnerabilities. Talking about the latest financial results, CEO Brian Krzanich said during a conference call, “We’re working to incorporate silicon-based changes to future products that will directly address the Spectre and Meltdown threats in hardware. And those products will begin appearing later this year.”