Nvidia reported a “significant decrease” in revenue in the second quarter of 2018 as a result of falling demand for graphics cards from bitcoin and other crypto currency miners.
On Thursday, the CFO of the graphics card company, Colette Kress, said that “the revenue from graphics processor sales was $ 2.66 billion, which is 40% more than a year ago, and 4% less compared to the previous quarter.” Nevertheless, she said, the growth in demand for professional visualization, gaming and data centers compensates for the decline in sales to the miners.
Over the past year, demand for video cards has grown rapidly thanks to the miners. Then Nvidia Chief Executive Officer, Huang Renxun, focused on the need to take measures to provide both miners and gamers with graphics cards – the main target audience that began to experience a deficit.
Last time, a representative of Nvidia said that revenues from the mining market remained “about the same”, while the main demand for graphics cards is due to “the now amazing games that are coming out.”