Nvidia's quarterly revenue grew by 50%

Nvidia's quarterly revenue grew by 50%

The developer of graphics processors Nvidia reported for the third quarter of 2022 fiscal year. Here's how the key financial indicators grew compared to last year:

  • revenue — on 50%, up to $7.1 billion;
  • operating profit — on 91%, up to 2.7 billion;
  • net profit — on 84%, up to 2.5 billion.

Sales of gaming graphics cards - the main source of income - increased by 42%, up to 3.2 billion. According to Nvidia, Demand for the GeForce Series Still Outstrips Supply. To somehow reduce the deficit, at the beginning of the year, the company programmatically limited the mining capabilities of video cards. For miners, Nvidia has developed special devices. Sales of such devices amounted to only $ 105 million.

Sales of processors for data centers - the second most important segment - increased by 55%, up to 2.9 billion. Nvidia noted, that the demand for such processors has grown strongly from large customers - cloud service providers Amazon, Microsoft и Google. These companies use Nvidia products to recognize the human voice and analyze consumer data..

Sales of video chips in the segment of professional visualization increased by 144%, up to 0.6 billion. Revenue increases as you move to remote. Companies buy powerful graphics stations for their designers, so they can work from home.

Sales of chips for cars increased by 8%, up to 135 million. But regarding the previous, second quarter sales decreased by 11%. All due to production failures in the automotive industry, says Nvidia. This segment still holds the smallest share in the company's revenue – total 2%. Other developers are betting on sales of chips for the automotive industry.. For example, Qualcomm expects revenue growth in this direction from 1 billion to 8 billion dollars in the following 10 years.

After another strong report, Nvidia securities on the postmarket rose by 5%, to 308 $. Since the beginning of the year, the company's shares have added 135%, and capitalization increased to about 770 billion dollars. It's not much less., than Broadcom (230 billion), Qualcomm (205 billion), Intel (205 billion) and AMD (180 billion) combined. Nvidia's stock has risen particularly strongly in recent weeks., when it became known, that a chip developer could benefit from partnering with metauniverses like Meta.

Nvidia's quarterly revenue grew by 50%

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