Source: Dreamstime
Reading time: 2 minutes
According to the tech giant, both its earnings and sales figures beat analysts’ expectations. However, Nvidia still grapples with severe supply issues created by the mass buyout of consumer graphics cards by crypto miners.
Financial performance for Q1 2022
Gamers and students are behind the increased demand for GPUs . . . we expect that the current upgrade cycle will continue to be strong throughout the rest of the year as well.
Colette Kress, CFO
Here are the main financial highlights from Nvidia’s earnings release:
– Revenue: $5.66 billion versus expectations for $5.41 billion
– Earnings per share: $3.66 versus expectations for $3.28
– Graphics segment income: $3.45 billion (up 81% year over year)
– Compute and networking segment income: $2.21 billion (up 88% year over year); Nvidia said that the sales results were somewhat aided by their recent acquisition of Mellanox (a data centre company), as well as by the higher demand for server GPUs
– Sales from gaming products: $2.76 billion (up 106% year over year)
Although upbeat, Nvidia argues that its Q1 results could have been better had it not been for the pandemic-fueled shortage of semiconductors on a global scale, which prevented the company from hitting its quarterly revenue target of $6.3 billion.
What comes next for Nvidia?
“CMP yields better, and producing those doesn’t take away from the supply of GeForce. So it protects the supply for the gamers.”
Jensen Huang, CEO
Despite adding extra software functionality aimed at dissuading crypto miners from buying the latest graphics cards, Nvidia’s chipsets are still hard to come by on the consumer market. As a result, the company predicts that its products will likely remain in short supply until the end of this year. The situation, however, should be somewhat softened by its latest line of dedicated cryptocurrency chips (CMP). Just for this quarter alone, the company is expecting earnings from said CMP chips to reach around $400 million.
Upcoming reports
See the full list of upcoming earnings reports for 31st May – 4th June in the tables below.
Monday, May 31st, 2021
| Country | Company | Fiscal period |
|---|---|---|
| United Kingdom | Chemring Group PLC | Half Year 2021 |
Tuesday, June 1st, 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Zoom Video Communications Inc | Q1 2022 |
| USA | Ambarella Inc | Q1 2022 |
| USA | Hewlett Packard Enterprise Co | Q2 2021 |
| USA | Plug Power Inc | Q1 2021 |
| Canada | Canopy Growth Corp | Q4 2021 |
Wednesday, June 2nd, 2021
| Country | Company name | Fiscal period |
|---|---|---|
| USA | NetApp Inc | Q4 2021 |
| United Kingdom | Templeton Emerging Markets Investment Trust PLC | Full Year 2020 |
Thursday, June 3rd, 2021
| Country | Company | Fiscal period |
|---|---|---|
| Canada | Lululemon Athletica Inc | Q1 2021 |
| USA | Slack Technologies Inc | Q1 2022 |
| United Kingdom | Pennon Group PLC | Full Year 2021 |
Friday, June 4th, 2021
| Country | Company name | Fiscal period |
|---|---|---|
| USA | Broadcom Inc | Q2 2021 |
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