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Nvidia (NVDA) revenue for the 4th quarter of 2022

Nvidia co-founder and CEO Jensen Huang attends the event during the annual Computex computer show in Taipei.

Tyrone Siu Reuters

Nvidia reported revenue for the fourth quarter and sales on Wednesday, which exceeded analysts’ expectations and provided a strong forecast for the current quarter. Shares fell about 2% in expanded trading.

Here’s how the chipmaker worked against Refinitiv’s consensus expectations for the quarter ending January:

  • EPS: $ 1.32 adjusted compared to the expected $ 1.22, which is 69% more than the same period last year.
  • Income: $ 7.64 billion against the expected $ 7.42 billion, up 53% from the same period last year.

Nvidia said it expects to release $ 8.10 billion in the first quarter, which is higher than analysts expected at $ 7.29 billion. Nvidia CEO Jensen Huang said in a statement that the company is seeing “exceptional” demand because its chips are useful for artificial intelligence and other intensive applications.

In 2021, Nvidia was on a big flight, but since the beginning of the year it has fallen by about 10% as investors seek safer investments in the face of inflation.

Nvidia has been augmented as cloud service providers and businesses are turning to the types of GPUs that Nvidia makes for artificial intelligence applications such as speech recognition and referrals. Nvidia reported sales of $ 3.26 billion from its data center business, an increase of 71% annually.

During the quarter, Nvidia announced that parent company Facebook Meta would use its chips, for example, for artificial intelligence research.

Gaming is still Nvidia’s largest market, as its latest GeForce GPUs are perfect for advanced computer gaming. The gaming business grew 37% year-over-year to $ 3.42 billion from GeForce sales, the company said.

Nvidia chips are also useful for professionals who need them for applications such as computer design, visualization and artificial intelligence. He reports these sales in the professional visualization business, which has grown 109% annually to $ 643 million. The company said the growth was driven by chip sales for workstations and hybrid work.

However, Nvidia’s automotive business fell 14% to $ 125 million. This is not the main focus for the company, but represents a growing market for its chips. Nvidia said restrictions on carmakers’ supplies were one of the reasons for the decline in car sales.

Nvidia said almost all of its GPUs now come with software that prevents them from being used to mine cryptocurrencies, and that miners can instead buy specialized processors for mining. In fiscal 2022, it sold $ 550 million in crypto cards and only $ 24 million in the fourth quarter.

As a sign of how Nvidia is managing supply chain challenges, it said it has long-term supply commitments of $ 9 billion compared to $ 2.54 billion a year ago.

Nvidia has been in talks to buy Arm, a technology chip company, from SoftBank, but earlier this month the company announced that the deal had taken place collapsed under control.

“We did our best. But the headwind was too strong,” Juan told analysts.

Nvidia has said it expects $ 1.36 billion in operating expenses as a result of the Arm deal not closing.

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Nvidia (NVDA) revenue for the 4th quarter of 2022

Nvidia co-founder and CEO Jensen Huang attends the event during the annual Computex computer show in Taipei.

Tyrone Siu Reuters

Nvidia reported revenue for the fourth quarter and sales on Wednesday, which exceeded analysts’ expectations and provided a strong forecast for the current quarter. Shares fell about 2% in expanded trading.

Here’s how the chipmaker worked against Refinitiv’s consensus expectations for the quarter ending January:

  • EPS: $ 1.32 adjusted compared to the expected $ 1.22, which is 69% more than the same period last year.
  • Income: $ 7.64 billion against the expected $ 7.42 billion, up 53% from the same period last year.

Nvidia said it expects to release $ 8.10 billion in the first quarter, which is higher than analysts expected at $ 7.29 billion. Nvidia CEO Jensen Huang said in a statement that the company is seeing “exceptional” demand because its chips are useful for artificial intelligence and other intensive applications.

In 2021, Nvidia was on a big flight, but since the beginning of the year it has fallen by about 10% as investors seek safer investments in the face of inflation.

Nvidia has been augmented as cloud service providers and businesses are turning to the types of GPUs that Nvidia makes for artificial intelligence applications such as speech recognition and referrals. Nvidia reported sales of $ 3.26 billion from its data center business, an increase of 71% annually.

During the quarter, Nvidia announced that parent company Facebook Meta would use its chips, for example, for artificial intelligence research.

Gaming is still Nvidia’s largest market, as its latest GeForce GPUs are perfect for advanced computer gaming. The gaming business grew 37% year-over-year to $ 3.42 billion from GeForce sales, the company said.

Nvidia chips are also useful for professionals who need them for applications such as computer design, visualization and artificial intelligence. He reports these sales in the professional visualization business, which has grown 109% annually to $ 643 million. The company said the growth was driven by chip sales for workstations and hybrid work.

However, Nvidia’s automotive business fell 14% to $ 125 million. This is not the main focus for the company, but represents a growing market for its chips. Nvidia said restrictions on carmakers’ supplies were one of the reasons for the decline in car sales.

Nvidia said almost all of its GPUs now come with software that prevents them from being used to mine cryptocurrencies, and that miners can instead buy specialized processors for mining. In fiscal 2022, it sold $ 550 million in crypto cards and only $ 24 million in the fourth quarter.

As a sign of how Nvidia is managing supply chain challenges, it said it has long-term supply commitments of $ 9 billion compared to $ 2.54 billion a year ago.

Nvidia has been in talks to buy Arm, a technology chip company, from SoftBank, but earlier this month the company announced that the deal had taken place collapsed under control.

“We did our best. But the headwind was too strong,” Juan told analysts.

Nvidia has said it expects $ 1.36 billion in operating expenses as a result of the Arm deal not closing.

Reported by Source link

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