30 January 2019 10:46, UTC

The AMD video card manufacturer announced the highest profitability over the past seven years in 2018. Nevertheless, it expects the revenue to decline in the next quarter, partly due to the demand decrease from the miners’ industry.

The company's revenue in the last quarter of 2018 amounted to $1.42 bln, totaling for a record $6.48 bln for the whole 2018. In comparison to 2017, the total profit of AMD then amounted to $5.25 bln — which indicates a significant growth. However, AMD suggests that in the last quarter its sales to the mining industry has almost completely disappeared. The company stated this fact in its report:



“The year-over-year decrease is expected to be primarily driven by lower graphics sales due to excess channel inventory, the absence of blockchain-related GPU revenue and lower memory sales.”

It is worth to mention that AMD warned about the trend for the reducing demand from the mining industry more than a year ago. CEO stated back in October 2017 that the company wasAt that time, the representatives of AMD noted that sales of GPUs could suffer from a decrease in this demand. Subsequent AMD reports confirmed these forecasts. The revenue from the crypto mining segment was named “insignificant” by the end of Q3 2018, the company noted back in October of the same year.

Image courtesy of Toughnickel

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