Miners provided 10 percent of the company’s profit AMD

In February, one of the world’s largest graphics card manufacturers, AMD, announced the intention to increase production of devices to meet the needs of miners. The firm made a mistake with the strategy in the first quarter of 2018, the miners brought her 10 percent profit. This writes Coindesk , citing a message AMD.

Graphics card manufacturer was to earn by mining

In January-March net profit of the company amounted to $ 81 million, whereas for the same period 2017 AMD was a loss of $ 33 million dollars. Revenue soared 40 percent to $ 1.65 billion.

Such indicators provided a unit for the development and production of graphics chips and graphics cards under the name of AMD’s Computing and Graphics Business Group.

According to the chief operating officer of the company Devendera Kumar, in the next 12 years waiting for AMD’s net profit from the sale of equipment for mining cryptocurrency.

On the basis of financial performance in the first quarter of 2018, we expect growth in the mid 20-ies. It will occur in particular due to the release of new products.

In the fourth quarter of last year, AMD reported a profit of $ 1.48 billion. 958 million of which occurred in the division of computing and graphics.

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