Yesterday evening Nvidia presented its results for the last quarter of 2018 and the fiscal year 2019. The analysts expected positive results with a significant profit increase. The company performed significantly better on the stock exchange last year. The big moment finally arrived yesterday evening. Results that are presented as positive, although there are many nuances.
On the one hand, the company earned 24% less in the last quarter than in the same period last year. A turbulent end to the year, they said of the company itself.
Nvidia’s financial results
This autumn, as they have said since Nvidia, is connected with the bad time of the cryptomons. It is because they have signed it. Nvidia wanted to release the rest of the cards that the Chinese miners didn’t want, even though it didn’t work the way they wanted. However, the company is forced to get rid of the remaining cards. In addition, cloud service companies have frozen their purchases in the last quarter, leading to a drop in sales.
But the annual data is positive for the company. They generated revenues of $11,720 million, an increase of 21% over 2017. It’s not just a new record for the company. They were reinforced by profits in other segments such as the production of graphic units for games, data centers, professional image and automotive. As a result, annual profits exceeded $4 billion in 2018.
These figures from Nvidia have exceeded the expectations of analysts and the company itself. Investors have responded positively to this news.