AMD: Blockchain-related GPU sales in Q3 were negligible
In its financial report for the third quarter of this year, integrated circuit electronics manufacturer AMD wrote that “blockchain-related GPU sales were immaterial.”.
According to the company, in the third quarter its revenue grew to $ 1.65 billion – 4% year-on-year – but was less than the expected $ 1.7 billion. This is associated with a general drop in sales in the segment of computing and GPUs compared to the previous quarter..
That said, this segment’s revenue grew 12% year-over-year to $ 938 million, driven primarily by sales of Ryzen mobile and desktop products. Blockchain-related GPU sales were negligible. The average cost of selling GPUs has also dropped..
Previously, AMD CEO Lisa Su stated that blockchain technology turned out to be “a kind of deviation” in the company’s short-term strategy. She acknowledged its importance, saying: “The idea is that it allows peer-to-peer transactions to create decentralized networks. This is good technology “.
In the first quarter of this year, Su noted that her company’s growth exceeded expectations, primarily due to the development of the blockchain, but refused to switch to a new market, stating that she would continue to work in familiar areas..
The document also says that AMD expects to receive about $ 1.45 billion in the fourth quarter of 2018, thus surpassing the same period of the previous year by 8% – in the fourth quarter of 2017, the company’s revenue was $ 1.34 billion..
Following the release of the report, AMD shares experienced a 9% decline to a low of around $ 22.79, according to Nasdaq data. Reuters attributes this dynamic to the company’s failure to achieve its stated goals..
Previously, analysts have already noted that AMD’s stock price took into account the sale of its equipment to miners, and warned that this growth could be short-lived..
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