One of the major partners AMD, the company TUL Corporation, said a decent decline in revenues from sales of AMD Radeon due to the downturn in the market of cryptocurrencies.
According to the latest report, TUL Corporation in June rescued about $13.2 million (NTD 405,589,000), while in March the company recorded revenue in the amount of $42 million (1,318,159,000 NTD).
In the second quarter of 2018 TUL has reduced revenue by 22.5% compared to the same period last year, but sequentially earnings drop 60%. It turns out that in March it made more money than the entire second quarter.
TUL is one of the key partners for AMD and GPUs in modern conditions bring about 95% of revenue. The financial position of TUL depends on the situation in the graphics market, the dynamics of the indicators which, in turn, depends on the state of the cryptocurrency market.
Recall that in March, AMD warned that a possible reduction in demand from the miners will have a material adverse effect on the business of the GPU. Increased contribution to the increase in demand from cryptocurrency miners, the American company is already recognized on the financial results of the third quarter.