💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Nvidia Revenue Growth Cools amid Crypto Market Shock Waves

Published 11/16/2018, 06:34 AM
Updated 11/16/2018, 07:41 AM
 Nvidia Revenue Growth Cools amid Crypto Market Shock Waves

Nvidia’s financial results for the third quarter of 2018 came out worse than expected due to inventory overload caused by the end of the cryptocurrency boom, as stated in the official release.

The manufacturer of graphics products for the gaming industry experienced strong revenue growth in 2017, capitalizing on pent-up demand for chips from PC-based cryptocurrency miners. However, riding a hot trend may have adverse consequences once the market cools down.

“Our near-term results reflect excess channel inventory post the crypto-currency boom, which will be corrected," Nvidia founder and CEO Jensen Huang commented.

Third-quarter revenues grew 2% sequentially to $3.18 billion and 21% compared to the same period of 2017. However, investors were not hap...


This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.