NVIDIA reports 84% surge in revenue for Q1FY22, data centre business earns $2.05 billion
Published 4 June 2021
Global semiconductor and tech services company NVIDIA has announced its fiscal results for the first quarter of 2022. The company reported a revenue of $5.66 billion, an 84 percent year-on-year surge and beating analysts’ estimates by a dramatic margin.
The company attributes its growth to its three core businesses, Gaming, Data Centres, Professional Visualisation.
Gaming saw a record 106 percent year-on-year growth with $2.76 billion in revenue due to increased sales in GeForce GPUs as well as game-console SOCs.
Data centre revenue was up 79 percent year-on-year with $2.05 billion earned. This was driven primarily by NVIDIA’s acquisition of Israeli-American tech hardware manufacturer Mellanox. NVIDIA announced the acquisition of Mellanox in 2019 for $6.9 billion, and the transaction was completed in April 2020.
NVIDIA has also credited part of its revenue boom to cryptocurrency trading and mining, with its Cryptocurrency Mining Processors (CMP) generating revenue of $155 million.