AMD’s Sales Of Blockchain-Related GRUs Go Down
The revenue of AMD, an American manufacturer of microcircuit electronics, from sales of “blockchain-related GPU sales” turned out to be insignificant in the Q3 of 2018, as indicated in the company's financial report.
Although the company’s profit in the period from July to September amounted to $1.65 billion, which was 4% more than last year, the planned amount of $1.7 billion has not yet been achieved. AMD explains this by lower revenues in the segment of sales related to computers and graphics.
Compared to the same period in 2017, the total income from sales grew by 12% to $938 million, mostly due to the high demand for the Ryzen mobile and desktop processors.
Earlier, Lisa Su, the company’s director general, stated that blockchain technology is of great importance for many spheres of life, but, in the AMD’s business, it is secondary and is used only in the short term. The profit of the software manufacturer was more than planned for the first quarter of the year, so the company will focus on its main product instead of participating in the hype around blockchain, Su added.
After the publication of the report, the AMD’s stock prices decreased by 9% to $22.79 per share, according to the Nasdaq stock exchange. In the summer of 2018, the analysts stated that the value of the company's shares was inflated due to the growing popularity of crypto mining.
Previously, Peter Alexander, a representative of the Australian government agency, stated that there was too much hype around blockchain.