Nvidia reports record quarterly revenue at $3.21 billion

Nvidia reports record quarterly revenue at $3.21 billion

In fact, its Q1 net income rose by 145 percent compared to Q1 a year ago, and its gaming specific revenue spiked up by 68 percent.

The chipmaker Nvidia (NASDAQ:NVDA) smashed market expectations by reporting a 66% jump in its fiscal first-quarter revenue largely on the strength of video gaming sales and profits from its data centers.

In pre-market trade, Nvidia shares shed 2% to US$254.48. This figure does not include cryptocurrency sales (Nvidia reported cryptocurrency revenue of $289M).

British tourists 'kidnapped' at Virunga wildlife park in Democratic Republic of Congo
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Yeah. Thanks for your question, Toshiya. The gaming market is quite healthy but most smart gamers/consumers are still holding out on the upgrade hoping for either a new GPU at reasonable price, an end of the price-hike for current graphics card, or for the market to get flooded by cheap graphics cards used for cryptomining, which is the worst-case scenario for both Nvidia and AMD, as it will heavily reflect on their future financial reports. And the reason for that is because, we want gamers to - the gaming experience of a graphics card depends so much on the GPU that is chosen. And most of the ecosystem loved it. And so we chose to pull the plug because the distraction was unnecessary and we have too much good stuff to go do. Pascal still seems to be selling very well too, with gaming growth continuing to rise.

The largest piece of the revenue pie is by far the GPU segment, to the tune of $2.77 billion-a 77% increase year-on-year. That should accelerate as DGX-2 sales kick in. He notes that the biggest drivers for Nvidia are chips for data centers and artificial intelligence applications. Nvidia's main competitor Advanced Micro Devices also revealed that the company had generated a 10 percent sales from Blockchain sales and cryptocurrency.

Revenue from Nvidia's automotive group - the company supplies its chips to autonomous carmakers but also has a fleet of its own driverless cars - grew 4 percent from a year earlier to $145mln. However, this hopefully means that Nvidia's next generation cards, whenever they come out, won't be so hard to purchase. That would undoubtedly spur a broad refresh cycle, but for now, Nvidia hasn't made any new announcements.