NVIDIA Announces First Quarter Fiscal 2022 Revenue Tracking Above Outlook
April 12 2021 - 2:07PM
NVIDIA today announced at its annual Investor Day that first
quarter revenue for fiscal 2022 is tracking above its previously
provided outlook, with outperformance in each of its market
platforms.
“While our fiscal 2022 first quarter is not yet complete, Q1
total revenue is tracking above the $5.30 billion outlook provided
during our fiscal year-end earnings call. We are experiencing
broad-based strength, with all our market
platforms driving upside to our initial outlook,” said Colette
Kress, executive vice president and chief financial officer of
NVIDIA.
“Within Data Center we have good visibility, and we expect
another strong year. Industries are increasingly using AI to
improve their products and services. We expect this will lead to
increased consumption of our platform through cloud service
providers, resulting in more purchases as we go through the year.
Our EGX platform has strong momentum, and we expect this will drive
increased revenue from enterprise and edge computing deployments in
the second half of the year.
“Overall demand remains very strong and continues to exceed
supply while our channel inventories remain quite lean. We expect
demand to continue to exceed supply for much of this year. We
believe we will have sufficient supply to support sequential growth
beyond Q1,” she continued.
NVIDIA’s market platforms include Gaming, Data Center,
Professional Visualization, and Automotive. The company also raised
its first-quarter revenue estimate for its new CMP product for
industrial-scale cryptocurrency mining to $150 million, up from $50
million previously expected.
In its Feb. 24 earnings release, NVIDIA had provided a revenue
outlook for its first fiscal quarter, ending May 2, of $5.30
billion, plus or minus 2 percent.
About NVIDIANVIDIA’s (NASDAQ: NVDA) invention
of the GPU in 1999 sparked the growth of the PC gaming market and
has redefined modern computer graphics, high performance computing
and artificial intelligence. The company’s pioneering work in
accelerated computing and AI is reshaping trillion-dollar
industries, such as transportation, healthcare and manufacturing,
and fueling the growth of many others. More information at
https://nvidianews.nvidia.com/.
For further information,
contact:
Simona Jankowski |
|
Robert Sherbin |
Investor Relations |
|
Corporate Communications |
NVIDIA Corporation |
|
NVIDIA Corporation |
sjankowski@nvidia.com |
|
rsherbin@nvidia.com |
Certain statements in this press release including, but not
limited to, statements as to: NVIDIA’s financial outlook for the
first quarter of fiscal 2022; NVIDIA’s outperformance in each of
its market platforms; visibility within Data Center; Data Center
having a strong year; industries increasingly using AI to improve
their products and services; increased consumption of our platform
through cloud service providers resulting in more purchases; strong
momentum of our EGX platform driving increased revenue from
enterprise and edge computing deployments in the second half of the
year; demand exceeding supply; and sufficient supply to support
sequential growth beyond the first quarter of fiscal year 2022 are
forward-looking statements that are subject to risks and
uncertainties that could cause results to be materially different
than expectations. Important factors that could cause actual
results to differ materially include: global economic conditions;
our reliance on third parties to manufacture, assemble, package and
test our products; the impact of technological development and
competition; development of new products and technologies or
enhancements to our existing product and technologies; market
acceptance of our products or our partners’ products; design,
manufacturing or software defects; changes in consumer preferences
or demands; changes in industry standards and interfaces;
unexpected loss of performance of our products or technologies when
integrated into systems; as well as other factors detailed from
time to time in the most recent reports NVIDIA files with the
Securities and Exchange Commission, or SEC, including, but not
limited to, its annual report on Form 10-K and quarterly reports on
Form 10-Q. Copies of reports filed with the SEC are posted on the
company’s website and are available from NVIDIA without charge.
These forward-looking statements are not guarantees of future
performance and speak only as of the date hereof, and, except as
required by law, NVIDIA disclaims any obligation to update these
forward-looking statements to reflect future events or
circumstances.
© 2021 NVIDIA Corporation. All rights reserved. NVIDIA and the
NVIDIA logo are trademarks and/or registered trademarks of NVIDIA
Corporation in the U.S. and/or other countries. Other company and
product names may be trademarks of the respective companies with
which they are associated. Features, pricing, availability, and
specifications are subject to change without notice.
NVIDIA (NASDAQ:NVDA)
Historical Stock Chart
From Aug 2024 to Sep 2024
NVIDIA (NASDAQ:NVDA)
Historical Stock Chart
From Sep 2023 to Sep 2024