In the remaining before the end of 2018, the company does not expect sales growth in this segment
A leading manufacturer of graphics chips, Nvidia announced its decision to cease to focus on the industry of bitcoin and cryptocurrency, was identified as the main causes of low yield, which it brings with it. This writes the CCN.
Nvidia CFO Colette Kress in particular noted that in the remaining before the end of 2018, the company does not expect sales growth in this segment.
“We believe that we have reached a normal period and focus on cryptocurrencies in the future do not intend. We expected that the profit from cryptocurrency related products will drop to about $100 million, but it fell to $18 million In future revenues from this direction will be small,” she said.
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Nvidia CEO Huang Genesung also noted that yield-oriented mining of chips that the company produces, due to the fall of the cryptocurrency market is constantly decreasing. At the same time, the main business of Nvidia demonstrates confident results.
Thus, in the second quarter sales of Nvidia on the playing field grew by 52% to $1.8 billion, and profit from data centers increased by 83% to $760 million.
Recall that in a recent financial report, Nvidia reported that revenue from sales of graphics processors (GPU) in the second quarter was $2.66 billion Despite the fact that this figure is 40% higher than the same period last year, compared with the previous quarter, this figure was less than 4%.