Home Cryptocurrency AMD: Cryptocurrency-related income rose in first quarter, however headed for decline

AMD: Cryptocurrency-related income rose in first quarter, however headed for decline

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Superior Micro Units Inc.

AMD, -3.77%

believes higher share of its graphics income got here from cryptocurrency mining within the first quarter. In a convention name after the chip maker released first-quarter earnings, Chief Monetary Officer Devinder Kumar revealed that blockchain-related income was about 10% of AMD income within the quarter. Beforehand, AMD had insisted that crypto-mining revenue was mid-single-digits percentage of its income. Kumar did say that AMD anticipated a “modest decline” in blockchain-related income within the present quarter, and stated that has been factored into the corporate’s second-quarter steering, which beat expectations. AMD inventory bought an additional increase throughout Wednesday’s name, with an eight% acquire leaping to greater than 11%.

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