Cryptocurrency and data centre drops hit Nvidia results

Morgan Stanley Previews Semi Earnings Expects Strong Nvidia Results Despite Crypto Concerns

"I think that a lot of gamers weren't able to buy into the new GeForce as a result". And the reason for that is because, we want gamers to - the gaming experience of a graphics card depends so much on the GPU that is chosen. That is up 66 percent year-over-year from $1.94 billion.

American graphics processing units (GPU) manufacturer Nvidia has recently revealed it netted $289 million from cryptocurrency-related sales in this year's first quarter, well above expectations. But they expect crypto sales to fall by about two-thirds in the current quarter.

Nvidia held their Q1 earnings call last night, boasting bumper revenue, but also announcing an expected 67% drop in cryptocurrency revenue for the next financial quarter because of the recent dip in mining GPU demand. However, it has been mining's pull on the same resources as Nvidia's core business, its $1.7bn+ games-related product range, that has made headlines.

Nvidia in March suspended self-driving tests across the globe, a week after an Uber Technologies autonomous vehicle struck and killed a 49-year-old woman crossing a street in Arizona. This helps to maintain the integrity of the data on the blockchain (in this case, who owns how many digital coins) in exchange for new digital coins. And most of the ecosystem loved it. And so we made a decision to pull the plug because the distraction was unnecessary and we have too much good stuff to go do.




The automotive department is still hanging on, and although it is the lowest earner compared to other departments, it still brought United States $145 million, up by 10 percent compared to the last quarter and 4 percent compared to the same quarter previous year. Huang said that the company has doubled sales of its chips to cloud data centers for deep learning, but investor response was muted due to lower-than-expected sales.

Part of that includes diversifying into more markets, with an especially strong push into artificial intelligence. Nvidia hasn't been pressured of late in the gaming market by AMD, but flagging GPU sales could finally bring the next generation cards to light.

Nvidia has also achieved good results in its data centre service, with revenue growing 71 per cent from a year earlier to a record $701 million for the first few months in 2018.

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