Turbo-boosted with record revenue in Data Center and Gaming, NVIDIA reported record revenue for the first quarter ended May 1, 2022, of $8.29 billion, up 46% from a year ago period.
When compared on a sequential basis, this was an 8% rise. Jensen Huang, founder and CEO of NVIDIA said:
“We delivered record results in Data Center and Gaming against the backdrop of a challenging macro environment. The effectiveness of deep learning to automate intelligence is driving companies across industries to adopt NVIDIA for AI computing.” Data Center has become our largest platform, even as Gaming achieved a record quarter.
Data centre impact
In Q1, NVIDIA posted revenue a record of $3.75 billion, up 83% from a year ago and up 15% from the previous quarter. “We are gearing up for the largest wave of new products in our history with new GPU, CPU, DPU and robotics processors ramping in the second half. Our new chips and systems will greatly advance AI, graphics, Omniverse, self-driving cars and robotics, as well as the many industries these technologies impact,” he added.
In the quarter, NVIDIA announced the Arm-based NVIDIA Grace CPU Superchip with two CPU chips connected coherently over NVLink-C2C, a new high-speed, low-latency chip-to-chip interconnect. It also announced NVIDIA OVX — a dedicated, scalable server reference design for creating industrial digital twins in Omniverse — combining high-performance GPU-accelerated compute, graphics and AI with high-speed storage access, low-latency networking and precision timing.
Also, the company has said that it has made major updates to NVIDIA AI — which includes enterprise-ready software for advancing speech, recommender systems, hyperscale inference and more — as well as the new NVIDIA AI Accelerated program, to help ensure performance and reliability of AI applications from NVIDIA’s partners. Taiwan’s leading computer makers are set to release the first wave of systems powered by NVIDIA’s Grace Hopper and Grace CPU Superchips, on track to launch in the first half of 2023.
On May 23, the board of directors increased and extended the company’s share repurchase programme to repurchase additional common stock up to a total of $15 billion through December 2023. However, GAAP earnings per diluted share for the quarter were $0.64, down 16% from a year ago and down 46% from the previous quarter, and include an after-tax impact of $0.52 related to the $1.35 billion Arm acquisition termination charge.
Non-GAAP earnings per diluted share were $1.36, up 49% from a year ago and up 3% from the previous quarter. During the first quarter of fiscal 2023, NVIDIA returned to shareholders $2.10 billion in share repurchases and cash dividends.
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