Nvidia enjoys another record quarter thanks in part to cryptocurrency mining

Shawn Knight

TechSpot Staff
Staff member

Demand for GPUs for cryptocurrency mining has led to inventory shortages and a frustrated gaming community but you won’t hear companies like Nvidia complain.

The graphics specialist in its most recent quarter (ending January 28) reported record revenue of $2.91 billion, a 10 percent increase over the $2.64 billion it brought in during the previous quarter and a healthy 34 percent gain over the $2.17 billion earned in the year-ago quarter.

That translates to earnings of $1.78 per share, an 80 percent increase from the $0.99 earned a year ago and 34 percent more than the $1.33 generated in the previous quarter.

Analysts were expecting just $1.17 per share on $2.69 billion in revenue.

For the full year, Nvidia reported a record $9.71 billion in revenue, up 41 percent over the $6.91 billion in the previous year. Earnings per diluted share checked in at $4.82, an increase of 88 percent over the $2.57 from a year earlier.

Nvidia CEO Jensen Huang said industries around the world are racing to incorporate AI and that virtually every Internet and cloud service provider has embraced their Volta GPUs. Furthermore, he said hundreds of transportation companies are using their Drive platform.

Nvidia’s stock popped briefly on the report but has since cooled and is only up about 2.3 percent as of writing.

Looking ahead, Nvidia expects to generate revenue of approximately $2.9 billion for the first quarter of 2018 (fiscal 2019) with gross margins between 62.7 percent and 63 percent.

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TS Evangelist
Im really curious how their game streaming service will do. Right now its in beta and apparently works quite well. Will we ever have to upgrade our graphics cards again if it proves successful?


TS Rookie
More billions to the greedy corporation at the expenses of all the small time suckers got suck into these digital currency scam of the century.


TS Maniac
Bought a 1080ti from EVGA rma'd twice apparently most of this revenue is made by shipping bad silicon, not that AMD is any better but in the end to meet demands they are shipping quantity over quality control, after talking to several people they said that boost 3.0 is causing all the problems as it boosts a 1080 ti past what it can handle with available voltage of chips that are toward the bottom of the lottery while possible and better chips fly by ok, normally they work fine but in games they crash due to boosting clocks, while heat wise the chip is ok, voltage wise it isn't causing the crash when different voltage states are applied. Most 1080tis are rated for 1500-1700boost while some are boosting to over 2000. Some run fine others don't guess this will be the new standardization. Lottery like monitors.


Surprised resellers aren’t getting credit in these articles. Stop by Craig’s list or eBay sometime. No shortage of non-commercial sellers selling 1080tis and other mining GPUs from packages of 8+ cards at a markup (and even the bundles themselves).