Revenues down 23 percent for AMD as a result of the crypto crash last year

Processor and graphics card manufacturer AMD reported 23 percent lower revenues for the first quarter of 2019, compared to the first quarter of 2018. The likely explanation is the declining sale of graphic cards för cryptocurrency mining.

Image source: Shutterstock / AMD

2019-05-01 12:58

Totte Löfström

totte.lofstrom@trijo.co

The processor- and graphics card manufacturer shows revenues of $1.27 billion for the first quarter of 2019, which is 23 percent lower than for the first quarter of 2018.

It is not surprising that the interest for mining cryptocurrencies grew massive during the cryptocurrency bull run of 2017. But when the processor- and graphics card manufacturer AMD recently published their quarterly for the first quarter of 2019, it seems like the mining interest declined when the crypto prices turned down.

According to the quarterly, the sale of graphics cards – which could be used to mine cryptocurrencies – went down a whopping 26 percent during the first quarter of 2019, compared to the first quarter of 2018.

Despite this, AMD still showed revenues of $1.27 billion, of which $831 million came from the segment “Computing and Graphics”.

This was first reported by Techradar.

Follow Trijo News on Facebook, Twitter and Instagram.