Intel had Q2 revenue of $16.5 billion, down 3% YoY. Operating profit was $4.6 billion and net profit was $4.1 billion.

Data-centre revenue of  $5 billion was down 7% YoY.

PC-related revenue of $8,8 billion was up 1% YoY.

IoT revenue was $986 billion up 12%.

Mobileye revenue was $201 million up 16%

Memory revenue of $940 million was down 13%

Programmables revenue of $489 million was down 5%.

The full-year revenue forecast was for $69.5 billion.

“Second quarter results exceeded our expectations on both revenue and earnings, as the growth of data and compute-intensive applications are driving customer demand for higher performance products in both our PC-centric and data-centric businesses,” said CEO Bob Swan (pictured) “based on our outperformance in the quarter, we’re raising our full-year guidance.”

Intel said it had sold ‘the majority’ of its smartphone modem business to Apple for around $1 billion with 2,200 Intel employees moving to Apple.

“This agreement enables us to focus on developing technology for the 5G network while retaining critical intellectual property and modem technology that our team has created,” said Swan, “we have long respected Apple and we’re confident they provide the right environment for this talented team and these important assets moving forward. We’re looking forward to putting our full effort into 5G where it most closely aligns with the needs of our global customer base, including network operators, telecommunications equipment manufacturers and cloud service providers.”