NVIDIA revenue jumps 84% to $5.66 bn in first quarter

NVIDIA reported revenue for the first quarter ended May 2, 2021, of $5.66 billion, up 84 percent from a year earlier and up 13 percent from the previous quarter, with record revenue from company’s Gaming, Data Center and Professional Visualization platforms.
Nvidia at trade show
Jensen Huang, founder and CEO of NVIDIA, said: “Our Data Center business continues to expand, as the world’s industries take up NVIDIA AI to process computer vision, conversational AI, natural language understanding and recommender systems. NVIDIA RTX has reinvented computer graphics and is driving upgrades across the gaming and design markets.”

“Mellanox, one year in, has exceeded our expectations and transformed NVIDIA into a data-center-scale computing company. We continue to make headway with our planned acquisition of Arm, which will accelerate innovation and growth for the Arm ecosystem,” he said.

Gaming revenue was up 106 percent from a year ago and up 11 percent sequentially, reflecting higher sales in GeForce GPUs, with both desktop and laptop setting records, as well as in game-console SOCs. It continued to benefit from strong sales of our GeForce RTXTM 30 Series based on the NVIDIA Ampere architecture. Gaming benefited from cryptocurrency mining demand, although it is hard to determine to what extent.

Data Center revenue was up 79 percent from a year ago and up 8 percent sequentially. The year-on-year revenue growth was driven primarily by the Mellanox acquisition and the ramp of NVIDIA Ampere GPU architecture products into vertical industries and hyperscale customers. Sequentially, growth in Data Center came from both compute and networking products, primarily driven by hyperscale customers.

Professional Visualization revenue was up 21 percent from both a year earlier and sequentially. The year-on-year increase was driven by record sales of notebook workstation GPUs. The sequential growth reflects sales of GPUs for both desktop and notebook workstations. Automotive revenue was down 1 percent from a year earlier and up 6 percent sequentially.

Outlook

NVIDIA said revenue for the second quarter of fiscal 2022 is expected to be $6.30 billion, plus or minus 2 percent.  Gross margins are expected to be 64.6 percent and 66.5 percent, respectively, plus or minus 50 basis points.

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