Nvidia Crypto Mining Sales Beat Q4 Expectations

Nvidia, an American technology company based in Santa Clara California, has seen continuous high demands from its GPU products from cryptocurrency miners in Q4. Stated Jensen Huang, the company’s chief executive officer, on earnings call on Thursday 8th February 2018.

Collete Kress, executive vice president and chief financial officer of Nvidia, who issued the remarks as the company unveiled its fourth-quarter earnings for 2017, stated that the company has saved approximately $2.91 billion in revenue during that period, an increase of more than 34% compared to the same time a year prior.

Moreover, Kress emphasized that the demand the company has seen in GPU’s product in the last few months could fluctuate, depending on the fortunes of the cryptocurrency market.

“While the contribution of cryptocurrency mining to our business is hard to quantify, it is likely to have higher than in previous years. However, we remain committed to our gaming demands as cryptocurrency trends are likely to remain volatile”. Stated Kress.

The company was not expecting an increment in profits from cryptocurrencies, stated an analyst for the company to a news outlet. And according to the post, when he was asked how Nvidia modeled cryptocurrencies, he was noted replying “modeled crypto approximately flat.”

“There’s a lot of dynamics going on in gaming,” the analyst continued. “One dynamic is there’s a fairly sizable pent-up demand going into this quarter, but I think the larger dynamics that are happening relate to just the amazing games that are out right now.”