About 10% of AMD’s profits come from mining

Crypto News

AMD’s earnings and quarterly earnings – Advanced Micro Devices Inc. – exceeded expectations in early 2018. This initially caused some concern.

Indeed, some critics of the manufacturer argued that these results were solely related to purchases to mine digital currencies .
This concern is unfounded. It is the growing demand for graphics cards for computers and consoles , but also for cryptocurrency mining that has driven profits and the share price of the manufacturer.

AMD shares jumped more than 9% after Wednesday’s earnings announcement. In addition, the price of AMD shares has risen by 250% over the last two years , due to the growing demand for high-end graphics cards.

The company has certainly been able to take advantage of the crypto-active boom , the graphics cards providing the computation capacity necessary for the mining of digital currencies .
However, mining would only account for 10% of AMD’s overall sales in the first quarter.

Therefore, gaming would continue to be a “top priority” for the company. AMD was able to seduce the crypto community , but also to improve its image among gamers  ; as shown by the glaring differencebetween its results in the first quarter of 2018 and those of 2017.
AMD reported net income of $ 81 million for this quarter, which ended on March 31st. In comparison, the company had a net loss of $ 33 million a year earlier.

 

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