Nvidia shatters its records thanks to Ampere: unprecedented numbers

Nvidia reported the results of the fiscal first quarter 2022 (finished May 2) in which he recorded new historical records in turnover, both overall and for the Gaming and Datacenter divisions. The US company, like other hardware companies, is capitalizing on the enormous demand for technology that has erupted in this long pandemic year.

Turnover grew by 84% compared to the same period last year, touching 5.66 billion dollars, never so good. Operating profit grew to 1.95 billion (+ 100%), the net one at 1.91 billion (+ 109%) and earnings per share hit $ 3.03, up 106%. All this upstream of operating expenses that rose by 63% and a gross margin that fell by 100 basis points to 64.1%. “We had a fantastic quarter, with strong demand for our products leading to record revenues,” commented Nvidia CEO Jensen Huang.

The sector Gaming he saw grow revenue by 106% to $ 2.76 billion compared to last year. Compared to Q4 2021, the progress was 11%. According to the financial director Colette Krees, the result is the result of “highest sales of GeForce GPUs, with records for both desktop and mobile solutions“.

Sales of SoCs for Nintendo Switch are also good, as indeed witnessed by the sales of the Japanese console. “We believe that the Gaming sector has benefited also of the demand related to cryptocurrency mining, although it is difficult to determine to what extent“. As far as the mining theme is concerned, it should be noted that the sales of Cryptocurrency Mining Processors (CMP) fall under the heading “OEM and Other“of the balance sheet, which in fact saw revenues grow by 137% to 327 million dollars compared to last year. About half, precisely 155 million dollars, is chargeable according to Nvidia to CMP solutions – as per previous estimates.

The sector Datacenter grew on an annual basis of 79% to $ 2.04 billion (+ 8% on Q4 2021). The big leap over the past 12 months is primarily due to the acquisition of Mellanox (specialist in high-speed interconnections and network solutions) and the diffusion of products based on Ampere architecture in vertical industries and among hyperscale customers.

The world of professional graphics, indicated in the accounts as “Professional Visualization “rose 21% to $ 372 million thanks to record sales of notebook workstation GPUs. The Automotive sector, on the other hand, is almost stable, with a turnover of 154 million dollars, down 1% on last year but up 6% on the previous quarter.

As regards the forecasts for the second quarter of fiscal 2022, Nvidia expects a turnover of $ 6.3 billion (with a margin of error of plus or minus 2%).

Shortage, the situation will continue to remain difficult

In a conference call with financial analysts, Nvidia’s top executives said they expect one limited availability of products (in relation to demand) also in the second half of this year despite the introduction of LHR models, those with the now famous performance limiter in Ethereum mining and the like.

“They should allow our partners to put more GeForce cards in the hands of gamers at better prices“said Colette Kress.” To help drive the demand for mining we have CMP products […], optimized for mining performance and efficiency because they do not meet the specifications required by a GeForce GPU, and which do not impact the provision of GeForce GPUs to gamers. “Nvidia expects CMP card business of $ 400 million in fiscal second quarter 2022, a nice step up from the 155 million scored in Q1.