Nvidia Q3 Earnings Report Reveals ‘Crypto Hangover’

Nvidia Q3 Earnings Report Reveals ‘Crypto Hangover’ November 17, 2018 by Akshay Makadiya Powerhouse chip maker Nvidia just released its third-quarter financial figures, reporting a decline in revenue amid waning demand for its graphics processing units (GPUs) from crypto miners. The downturn in crypto mining left Nvidia with unsold GPUs, negatively impacting its fiscal 2019 third-quarter revenues. Also read: Fork Wars: 66% of Bitcoin Cash Miners Now Backing Satoshi Vision Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Nvidia Shares Nosedive With Crypto Hangover The Santa Clara,…

Nvidia Q3 Results Reveal ‘Crypto Hangover’ Due to Disappearance of Miner Sales

Nvidia released its earnings report for the third quarter (Q3) of 2018 today, Nov. 15, revealing that demand for Nvidia’s graphics processing units (GPUs) among crypto miners has dried up. In the financial results report, founder and CEO of Nvidia Jensen Huang said that the company’s “near-term results reflect excess channel inventory post the cryptocurrency boom, which will be corrected.” Put differently, the cryptocurrency frenzy drove up prices for Nvidia’s gaming cards, but once that demand disappeared, prices did not decrease quickly enough to attract customers who were waiting for…

Nvidia to See Q3 Strong Earnings, Crypto-Related GPU Sales Remain in Downtrend

Experts from analytical firm Trefis have forecasted increased sales of Nvidia’s graphics processing units (GPUs) at the end of the third quarter (Q3) of this year, Forbes reported Nov. 13. Trefis notes that, while overall GPU sales will be up, sales from cryptocurrency-related activities will remain in a downtrend. American GPU manufacturer Nvidia is purportedly set to release its Q3 results on Nov. 15, and Trefis experts have predicted an earnings growth by slightly over 20 percent on a year-on-year basis. Revenues will primarily be driven by Nvidia’s gaming GPUs,…

Report: Bitcoin is Less Volatile Than Amazon, Netflix, and Nvidia

Historically, cryptocurrencies like Bitcoin have been criticized for their volatility, a trait which is often cited as a hurdle for crypto adoption in terms of real-world usage and increased interest from institutional investors. But according to new data, the No. 1 digital currency by market cap is actually less volatile than some of the largest and most popular stocks on Wall Street. Bitcoin’s HV Much Lower Than in Early-2018  The data comes from CBOE Global Markets, which focused on the 20-day historical volatility (HV) of Bitcoin, a number which has…

Nvidia Pulls Out of Crypto Mining Citing Low Revenue, While Bitmain Tops Their Profits

The persistent bearish mood of the crypto market where Bitcoin has slipped below the psychological price point of $8,000 has taken a toll on the stock price of Nvidia. The graphics chip manufacturing giant is considering taking cryptocurrency mining production off its budget. Nvidia Stock Price Drops Nvidia witnessed massive growth in 2017, which was propelled by the demand for its high-end Graphics Processing Units (GPUs), that are used for cryptocurrency mining. However, the company’s stock price, which was at a 52-week high on June 14, has now fallen to…

Nvidia Stock Falls as Q3 Revenue Estimates Hit by Crypto Mining Decline

U.S.-based graphics processing unit (GPU) manufacturer Nvidia stocks fell after announcing its third-quarter estimates, MarketWatch reported August 16. The firm’s revenue was affected by a decrease in crypto mining as digital currency markets slumped earlier this year. Nvidia shares declined more than five percent in the extended session. The closing price in the regular session was $257.44, down 0.6 percent. Nvidia forecasted its third quarter revenue between $3.19 billion and $3.32 billion, lower than the figure predicted by analysts of $3.34 billion. The company reported that crypto mining sales were…

Despite Crypto Mining Decline, Nvidia Will See Increased Revenue This Quarter

Analysts polled by FactSet suggest that Nvidia will see increased revenue this quarter despite “waning” cryptocurrency mining, Marketwatch reported August 10. The purported increase is due to strong demand for gaming devices and data-centers. While analysts suggest that the company’s revenue from crypto mining hardware will decline, the U.S.-based graphic processing units (GPU) manufacturer will see significant growth in its gaming and servers sales. Revenue from Nvidia’s gaming sector is expected to grow by 47 percent to $1.75 billion on a year-on-year basis while data-center revenue is expected to surge…