Shares of the American multinational semiconductor company AMD have plummeted amid lackluster sales of blockchain-related products. The firm revealed in its quarterly report that blockchain-related GPU sales were “negligible.”
Revenue Drops, Stock Price Follows
Per the quarterly report published October 24, AMD has recorded a revenue of $ 1.65 billion for the third quarter of 2018. This marks a 4 percent increase compared to last year’s results but it’s down 6 percent from the previous quarter.
According to the chief executive of the company Lisa Su, the graphics channel sales were lower throughout the quarter, hence the reduced revenue: