Manufacturer of processors and graphics cards AMD has published the financial report for the year 2018, which reported record profits for seven years and a sharp drop in demand in the mining sector. This is stated in a press release.
According to the report, income of AMD in 2018 amounted to $6.48 billion, which is almost 20% higher than the previous year ($5.25 bln in 2017). Note that in the fourth quarter the company’s revenue was $1.42 billion: $20 million expected.
In the first quarter of 2019, AMD intends to obtain an income of $1.25 billion, however the company noted a complete lack of demand from miners.
Recall that the magnitude of the decline in sales of graphics cards for mining AMD revealed back in October last year.
Previously, the main competitor AMD — Nvidia Corporation — also lowered its forecast for revenue because of the uncertainty in the mining sector.