AMD Reported that Sales of GPU Working with Blockchain were Minor in Last Quarter

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According to a quarterly financial report published on October 24, AMD reported that sales of graphics processors (GPUs) were very small in the last quarter.

The American manufacturer of microcircuit electronics, AMD released a financial report for the third quarter of 2018, reporting that, compared to last year, the company’s revenue grew by 4%, reaching $ 1.65 billion. Despite this, the income received is still lower than the previously forecasted $ 1.7 billion. Representatives of the company explained this by saying that sales of the company in the Computing and Graphics segment decreased.

Despite the fact that the figure does not correspond to the expected income, this year the income from AMD Computing and Graphic grew by 12% compared with last year’s figure. Last year, the company’s revenue amounted to about 938 million dollars. It is worth noting that most of the revenue was provided by the sale of Ryzen products. At the same time, the sale of GPUs was insignificant in the last quarter, which was the reason for the decline in the cost of the GPUs themselves.

AMD CEO Lisa Soo reported that Blockchain technology had a short-term perspective on AMD’s business model. Despite this, Su noted that technology is of great importance in various fields, such as finance and banking.

It is worth noting that in the first quarter of this year, the company’s revenues exceeded the projected amount. Then, representatives of the company said that, despite the success of working with Blockchain, AMD will continue to focus on its main markets in the future.

As reported in the published report, in the next quarter of this year, the company expects another decline in profits, predicting the amount of income – 1.45 billion dollars. Despite the fact that the projected income is lower than the 3 quarter, this amount exceeds the company’s income for the same period last year. Then the company’s revenue amounted to 1.34 billion dollars.

It is worth noting that after the report was published, the value of the company’s shares fell by 9% to $ 22.79 per share.

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