Nvidia posted yet another string of records during its Q1 2018 earnings call, but the company’s stock tumbled 7.85% after it revealed that $287 million of its revenue was generated from direct sales to cryptocurrency miners. The company expects crypto revenue to fall by two-thirds during the current quarter.
Nvidia raked in a record $3.21 billion in Q1, a 66% year-over-year increase. Profit also increased a whopping 145% year-over-year to $1.24 billion.
Gaming is Nvidia’s largest revenue driver by far, generating 53.7% of the company’s revenue in Q1, and that crucial segment jumped 68% year-over-year.
volatile cryptocurrency segment. Nvidia says these cards accounted for $298 million of the OEM and IP segment revenue, marking the company’s first public comments on its crypto-derived revenue.
But fears of drastic losses of sales in volatile cryptocurrency segment sent Nvidia’s stock tumbling 7.85% in after-hours trading.
