NVIDIA: Graphics card manufacturer profits from cryptocurrency mining!

According to news released yesterday, NVIDIA Corporation was able to increase significantly again. Revenues increased 34% to $ 2.91 billion in the last quarter of 2017 from the last year. Frequent sale of high-priced graphics cards for crypto – mining has also contributed to the positive development of the company. The share price is significantly bigger after announcement of the sales figures.

NVIDIA announced and exceeded analysts’ expectations clear yesterday. The reason for good business is generally high demand for graphics chips. This applies to both gaming graphics cards as well as data centers or crypto – mining . Cryptocurrency miners need hq graphics cards that offer comparatively large margins when they’re sold. Bottom line was at 1.78 billion US dollars whopping 71% more than last year in the manufacturer’s books. NVIDIA CFO Colette Kress did not want to praise crypto scene too much. As in the past, one feels especially connected with gaming customers. Trends in cryptocurrencies are “quite subject to fluctuations “, says Kress. That’s when, the company asked its trading partners to limit the sale of certain graphics cards, so prices would not be pushed up even more by the crypto-miners.

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Part of the good results was also released in March 2017 game console Nintendo Switch, in which a NVIDIA Tegra chip is installed. Revenues from Tegra production climbed 75% to $ 450 million. Incorporating NVIDIA chips into data centers has also doubled. In the gaming sector, the manufacturer recorded a growth of 29%. Only in the automotive business, the manufacturer no longer drives at the top. Last year, the Group recorded less than 15% growth in this area. This meant that the results were below their own expectations for the second year in succession.

The US tax reform is also having its first impact. For the past quarter NVIDIA still expects a tax rate of 12%, while in the months before 17% had to be paid to the local tax authorities.

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