Nvidia: annual profit up but fourth quarter suffered from “CryptoPhone”

American manufacturer of gaming and computer hardware Nvidia presented the annual earnings report. Relevant information cited in the report for the 4th quarter of 2018. The company more than others has suffered from the fall of the cryptocurrency market and the consequent lack of demand for mining hardware. The total annual revenue in 2018 increased by 21 percent and made up 11.72 billion. The growth was driven by higher sales in the segments of games, data centers, and automotive products.

This week, Nvidia shares jumped 8 percent, but the rate for the 4th quarter of 2018 leaves much to be desired. Revenue down 24 percent compared to the same quarter last year to 2.24 billion. Commenting on the statistics, founder and CEO Jensen Huang noted the high volatility of the market.

It was a very turbulent year, very close to what can be called a great year. But the combination of excess inventories after the weakening of the cryptocurrency sector and a General deterioration in market conditions led to a rather disappointing quarterly numbers.

As previously reported on Cointelegraph, in the second half in Nvidia expect a significant negative impact on the total annual rate due to the lack of demand among the miners.

See also: Against Nvidia filed a lawsuit to the court. What’s the matter?

In addition, in one study, at the beginning of this month, it was said that Nvidia still managed to 1,95 billion more profit in the cryptocurrency sector than previously forecast.

More data look at cryptodata. Also look into the rating of the cryptocurrency, not to miss the early phase of the Year. Today, the market capitalization exceeds $ 121 billion, Ethereum is at the level of 123 USD.

Subscribe to our channel in the Telegram. And buy masternode!

Leave a Reply

Your email address will not be published. Required fields are marked *