Click Here for more inforamation
  • Wed. Feb 21st, 2024

Nvidia’s beats estimates with quarterly revenue of $7.19B, down 13% from year ago

Bynewsmagzines

May 24, 2023
Nvidia debuts GeForce RTX 4060 family, GeForce Now teams with Xbox


Connect with top gaming leaders in Los Angeles at GamesBeat Summit 2023 this May 22-23. Register here.


Nvidia reported revenues of $7.19 billion for the first fiscal quarter ended April 30, down 13% from a year ago. But it beat expectations on Wall Street in the quarter.

The maker of AI and graphics chips said it had record data center revenue of $4.28 billion, up from 14% from a year ago. That’s a sign that data center customers are on a recovery path. In after-hours trading, Nvidia’s stock price is up to $375.26 a share, up 23%.

Analysts expected Nvidia to post adjusted earnings of 92 cents a share, but Nvidia came in at $1.09 a share, or $2.7 billion, in adjusted net income. That was down 20% from a year ago and up 24% from the previous quarter. Wall Street had only expected $6.53 in revenues in the quarter.

Gaming

First-quarter revenue was $2.24 billion, down 38% from a year ago and up 22% from the previous quarter.
Announced the GeForce RTX 4060 family of GPUs, bringing the advancements of Nvidia Ada Lovelace architecture and DLSS, starting at $299.

Event

GamesBeat Summit 2023

Join the GamesBeat community for our virtual day and on-demand content! You’ll hear from the brightest minds within the gaming industry to share their updates on the latest developments.

Register Here

Nvidia launched the GeForce RTX 4070 GPU based on the Ada architecture, which enables DLSS 3, real-time ray-tracing and the ability to run most modern games at over 100 frames per second at 1440p resolution. It also added 36 DLSS gaming titles, bringing the total number of games and apps to 300. And Nvidia expanded GeForce Now’s game titles to more than 1,600.

Data center

First-quarter revenue was a record $4.28 billion, up 14% from a year ago and up 18% from the previous quarter. The company launched four inference platforms that combine the company’s full-stack inference software with the latest Nvidia Ada, Hopper and Grace Hopper processors.

Professional visualization

First-quarter revenue was $295 million, down 53% from a year ago and up 31% from the previous quarter.

Automotive

First-quarter revenue was a record $296 million, up 114% from a year ago and up 1% from the previous quarter. The company announced that its automotive design win pipeline has grown to $14 billion over the next six years, up from $11 billion a year ago.

Nvidia estimates that revenue for the second fiscal quarter ending July 31 is expected to be $11 billion, a considerable bump upward from the prior quarter.

GAAP earnings per diluted share for the quarter were 82 cents, up 28% from a year ago and up 44% from the previous quarter.

“The computer industry is going through two simultaneous transitions — accelerated computing and generative AI,” said Jensen Huang, founder and CEO of Nvidia, in a statement. “A trillion dollars of installed global data center infrastructure will transition from general purpose to accelerated computing as companies race to apply generative AI into every product, service and business process.”

He added, “Our entire data center family of products — H100, Grace CPU, Grace Hopper Superchip, NVLink, Quantum 400 InfiniBand and BlueField-3 DPU — is in production. We are significantly increasing our supply to meet surging demand for them.”

GamesBeat’s creed when covering the game industry is “where passion meets business.” What does this mean? We want to tell you how the news matters to you — not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Discover our Briefings.

Leave a Reply

Your email address will not be published. Required fields are marked *