NVIDIA Announces Q1 Fiscal 2022 Revenue Tracking Above Outlook
NVIDIA 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 thro
ExtremeTech
Nvidia Confirms GPUs Will Remain Scarce Through End of 2021 By Joel Hruska on April 14, 2021 at 11:34 am
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Nvidia has released a preview of its Q1 2021 revenue figures and a statement indicating the GPU shortage that’s bedeviled the market since September 2020 isn’t going away any time soon.
The good news is, Nvidia expects to earn more than the $5.3 billion it previously predicted. Nvidia doesn’t mention it in their own note, but FY Q1 2022 revenue of $5.3 billion would dwarf the $3.08 billion the company reported a year ago. Pandemic-related demand, gaming replacement cycles, and cryptocurrency mining have boosted Nvidia’s revenue ~1.7x year-on-year.
Do You Have These Top Tech Stocks On Your April 2021 Watchlist?
The broader market appears to be on the uptrend so far this week. While bank stocks seem to be leading in gains on stellar earnings figures, tech stocks remain in demand. Evidently, the tech-heavy Nasdaq Composite has mostly recovered from the recent tech selloffs. In fact, it seems to be edging closer towards its record high seen in February. With all this in mind, I can understand why investors are still looking for the top tech stocks now. After all, tech continues to significantly influence the world around us more each day. This is mostly thanks to overall digital acceleration and adoption of new tech ramping up throughout the current pandemic.
Crypto mining surge lifts fortunes of Nvidia proactiveinvestors.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.com Daily Mail and Mail on Sunday newspapers.
Nvidia expects crippling GPU shortages to continue throughout 2021 reseller.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reseller.co.nz Daily Mail and Mail on Sunday newspapers.