NVIDIA presents the accounts of 2018, where it has had record income
The financial results of the company for the years 2018 have been presented by NVIDIA, where it has had record income.
The financial results of the last quarter of 2018 and the fiscal data of 2018 are presented by NVIDIA. After the previous one that caused a sharp fall in the company's shares, very good results were now expected, with a significant increase in profits. After a sharp fall in the stock market and the sale of shares by Softbank, in addition to rumors of possible makeup of accounts, very good financial data has been presented. Good data in which there are some smudges.
Good financial data from NVIDIA
During the last quarter of last year, the company earned 24% less, compared to the same period of 2017. This is partly due to the decrease in the profitability of cryptocurrency mining and the high price of Turing architecture graphics.
NVIDIA wanted to make it clear that the misstep is due to cryptocurrencies. Jen-Hsun Huang, CEO of NVIDIA, has also highlighted that they have not been able to place the leftover graphics, as planned. They are forced to remove this excess stock, which is estimated at one million Pascal GPUs. Cloud service companies also slowed down product purchases in the last quarter. Both factors added together have caused a reduction in income.
Despite a worse-than-expected last quarter, the company's overall data has been very good. Revenues of 11.720 million dollars have been registered, which represents an increase of approximately 21% compared to 2017. These revenues also represent a record for the company.
Above all, the company has seen increased benefits in key segments such as graphics for gaming, Data Centers, professional image design and the automotive industry. The company's 2018 profits have exceeded $ 4.000 billion.
Data that exceeds the expectations of the company and that above all is driven by being a leading company in the Artificial Intelligence and Deep Learning industry. Its graphics with Tensor Cores are specially developed for AI and DL and are indisputable leaders, because no one is able to compete with them.
Source: NVIDIA
