Corporation Nvidia, manufacturer of graphics chips and graphics cards, reported income received from sales of chips for the cryptocurrency market. From the published document says that the demand for mining equipment was higher than anticipated and the results of the first quarter of 2019 fiscal year brought the company $289 million Is about 9% of Nvidia revenue, which amounted to $3,21 billion, an increase of 66% compared to the same period last year and 10% compared with the previous quarter. However, Nvidia expects that during the year, sales in this area will fall by two-thirds.
“Crypto currency miners in the quarter priobreli many GPUs, which led to higher prices, and many gamers are as a result not able to purchase a new version of the GeForce”, — said the head of the company Genesung the Hawn (Jensen Huang).
Nvidia’s net profit for the period reached $1.24 billion: that’s 11% more than in the previous quarter and 145% more compared to the same period last year. The company’s gross profit also increased in this period, it is recorded at 64.5 per cent, despite the fact that in the previous quarter it was equal to 61.9 per cent, and in the first quarter of the previous year to 59.4%.
Recall that in late March Jensun Huang (Jen-Hsun Huang) said that, in his opinion, the company should increase the production of graphics processors to eliminate the deficit caused by the demand from cryptocurrency miners.