Nvidia delivered strong first quarter financial results on Wednesday driven by massive gains in its gaming and datacenter units.
The Santa Clara, Calif.-based company delivered a Q1 net income of $1.91 billion, or $3.03 per share. Non-GAAP earnings were $3.66 per share on revenue of $5.66 billion, up 84% from a year earlier. Wall Street was expecting to see earnings of $3.28 per share with $5.41 billion in revenue.
Nvidia said GPU business revenue was $3.45 billion, up 81% from the year ago period. Its compute and networking revenue was $2.21 billion.
Breaking down business segments, Nvidia said gaming revenue increased 106% from a year ago to $2.76 billion. The company said the increase reflects strong demand for gaming GPUs and game-console SOCs.
Meanwhile, Nvidia’s data center revenue increased 79% year over year $2.05 billion. Nvidia said the year-on-year revenue growth was driven primarily by its acquisition of Mellanox acquisition and the ramp of Nvidia Ampere GPU architecture products.
Revenue from Nvidia’s automotive business came to $154 million and its professional visualization segment reached $372 million, up 21%.
In terms of guidance, Nvidia expects Q2 revenue of $6.30 billion, plus or minus 2%, well above market estimates for $5.5 billion in revenue.
“Our Data Center business continues to expand, as the world’s industries take up Nvidia AI to process computer vision, conversational AI, natural language understanding and recommender systems,” said Nvidia CEO Jensen Huang. “Nvidia RTX has reinvented computer graphics and is driving upgrades across the gaming and design markets. Our partners are launching the largest-ever wave of Nvidia-powered laptops. Across industries, the adoption of Nvidia computing platforms is accelerating.”
Shares of Nvidia were down slightly in after market trading.
