Nvidia reports huge first quarter revenue growth
Nvidia has published the financial results for the first quarter of the fiscal year for 2019. Overall revenue for the quarter was US$3.21 billion, up from US$2.91 billion in the previous quarter. However, the standout statistic is the 66% year-over-year growth that the company has experienced. Data-center requirements have helped boost the total, as Nvidia’s president and CEO, Jensen Huang, pointed out:
Our datacenter business achieved another record and gaming remained strong. At the heart of our opportunity is the incredible growth of computing demand of AI, just as traditional computing has slowed. The GPU computing approach we have pioneered is ideal for filling this vacuum.
The report offers some other interesting statistics. Gaming revenue totaled US$1.72 billion, while the data-center revenue was US$701 million. Nvidia expects the good results to continue, predicting revenue of US$3.10 billion (plus or minus 2%) for the next quarter. There is no mention of the now dead in the water GPP, and with graphics cards finally heading toward suggested retail prices it’s likely gaming revenue for the second quarter will remain strong.