Nvidia’s quarterly financial earnings report has come in and unsurprisingly, the GPU giant is continuing to do very well. In fact, its Q1 net income rose by 145 percent compared to Q1 last year, and its gaming specific revenue spiked up by 68 percent.
During the first quarter of the financial year, Nvidia managed to generate a total of $3.21 billion in revenue, which is up by 66 percent year-on-year. It is also a ten percent spike compared to Nvidia’s last quarter, in which it generated $2.91 billion in revenue. CEO, Jensen Huang stated in the report that Nvidia’s “datacentre business achieved another record and gaming remained strong”. In total, Nvidia’s GeForce gaming business brought in $1.72 billion, growing 68 percent compared to Q1 last year.
Given the strong earnings currently rolling in, Nvidia’s forecast for next quarter is looking positive. The company expects to generate $3.10 billion in Q2, with Nvidia pinning some of its growth opportunities on AI. Speaking a little bit about the future, Jensen Huang said: “At the heart of our opportunity is the incredible growth of computing demand of AI, just as traditional computing has slowed. The GPU computing approach we have pioneered is ideal for filling this vacuum.”
There is still no word on when we may see a successor to Pascal in the gaming GPU market, but hopefully we’ll get more news on that front in the coming months.
KitGuru Says: Given Nvidia’s current dominance across many GPU-related segments, this news shouldn’t come as a surprise. Pascal still seems to be selling very well too, with gaming growth continuing to rise. With that in mind, I do wonder whether or not we’ll see new GeForce GPUs any time soon.