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Verizon shuffles IoT biz, Intel’s wing nears $1bn/quarter, Nest burns money

Over the years, there has been much weeping, wailing, and gnashing of teeth, as investors and mouthpieces vented their spleen, upset with the apparent under-delivery of the IoT – something they had collectively hyped into the stratosphere. As the largest players settle into things, their results show that dedicated IoT revenues are fractions of their total, emphasizing that the IoT is evolutionary, not revolutionary, especially when it comes to the balance sheets. Verizon has reported that its IoT service revenue climbed 13% in Q1 2018, compared to Q1 2017 – a growth rate double that of its other operations. Total revenue growth was 6.6% year-on-year, to $31.26bn, with net income up from $3.45bn in Q1 2017 to $4.55bn in Q1…

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