Nvidia Q1 revenue up 84% to $5.7B YoY, beats estimates

Wednesday, 26. May 2021 22:21

Nvidia Corporation published its financial results for the first quarter of the fiscal year 2022 on Wednesday, marking a staggering 84% jump in revenue to $5.7 billion, compared to the same period of last year. The figure is also 13% higher from the last fiscal quarter.

The company's net income reached $1.9 billion, which is up 109% year-on-year and 31% higher than the fourth quarter of last fiscal year. GAAP earnings per diluted share marked a 106% increase from the comparable period of last year to $3.03 per share.

"We had a fantastic quarter, with strong demand for our products driving record revenue. [...] NVIDIA RTX has reinvented computer graphics and is driving upgrades across the gaming and design markets. Our partners are launching the largest-ever wave of NVIDIA-powered laptops. Across industries, the adoption of NVIDIA computing platforms is accelerating," said Jensen Huang, founder and CEO of Nvidia.

Related Links: NVIDIA Corporation
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Breaking the News / LH