Nvidia is constantly growing thanks to the crypto-miners

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Nvidia is constantly growing thanks to the crypto-miners

According to Colette Kress, CFO of Nvidia, the sales of graphic cards continue to grow steadily due to the demand from cryptocurrency miners.

Commenting on the company’s financial performance, Kress stressed that in the fourth quarter of last year the company’s revenues “exceeded expectations” and amounted to $ 2.91 billion, which is 34% more than in the same period in 2016.
Along with this, Kress noted that the high demand for the company’s products can vary depending on the conjuncture of the cryptocurrency market.

“Despite the fact that the contribution of cryptocurrency mining to our business is difficult to estimate, it probably was larger than in previous years. At the same time, we remain committed to meeting the demand from gamers for the first time, as the trends in the crypto currency market are likely to remain volatile, “she added.

Also during the teleconference, Nvidia analysts noted that the company does not particularly hope for revenue growth due to the development of the crypto-currency market. According to them, in the future the company’s products will continue to be in high demand among gamers thanks to “exciting modern computer games”.

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