AMD reported for the third quarter. The company’s revenue grew by 29%, while profit fell by 93%, compared to the same period last year. Over the past quarter, the profit amounted to $66 million, while in the third quarter of 2021 it earned $923 million.

The company said it did not meet its targets due to “the deteriorating PC market.” Also, this is developing a slowdown in the pace of cryptocurrency mining. In 2022, miners were not as actively buying video cards as they were in 2021.

AMD profits plummet as PC and crypto miner market slows down

GPUs and laptops no longer fly off the shelves.

Source: Iphones RU

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