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Monday | August 2, 2021
Nvidia reports better than expected earnings

Nvidia reports better than expected earnings

Nvidia’s profit soars…

Here is another announcement from Nvidia that arrives, at least, like a hair on the soup. While the annual conference of the GTC 2021 was held during which Jensen confirmed that the successor of Ampere would arrive only in 1 year, the rest of the information released will still make people grind their teeth…

After the announcements of the CEO of the company and his presentation of a CPU / GPU roadmap based on 2-year cycles, Jensen Huang let the floor to the CFO of NVIDIA, Ms. Collete Kress, the one who should not be invited …

No cards available but exceptional financial results

The latter said that the company’s revenues for the first quarter of the fiscal year will be higher than expected earlier this year. Small bonus, crypto-currency products seem to have played a major role in this good surprise.

While our first fiscal quarter of 2022 is not yet complete, total revenue for the first quarter is above the $5.30 billion guidance provided at the previous fiscal year-end earnings call. According to its CFO, nVidia is enjoying widespread traction benefiting all of its market platforms and contributing to the increase in its initial outlook.

According to a slide that Kress shared with her revenue forecast update during the investor day presentation, crypto-currency mining products are largely responsible for the increase.

CMP GPUs would have made $100 Million more in revenue for the quarter.

Nvidia bénéfice

This detail not having escaped some observers, Nvidia assured that even though crypto revenues are expected to be higher this quarter, the sale of CMP (Crypto Mining Processors) did not disrupt its regular supply of products, but instead proved “complementary” to it.

Regarding GPU supply tensions, NVIDIA expects demand to outstrip supply throughout this year. But the company will be able to secure sufficient supplies (wafers?) to ensure revenue growth beyond the first quarter.

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Edited by Calliers

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