NVIDIA Guides Up First Quarter Fiscal 2022 Revenue
April 13, 2021
noted that first quarter revenue for fiscal 2022 is tracking above its
previously provided outlook, with outperformance in each of its market
“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.
Wall Street previously expected that NVIDIA would report
$5.32 billion in sales in the quarter.
“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 through the year. Our
EGX platform has strong momentum, and we expect this will drive increased
revenue from enterprise and edge computing deployments in the second half of the
demand remains very strong and continues to exceed supply while our channel
inventories remain quite lean. We expect demand to continue to exceed supply for
much of this year. We believe we will have sufficient supply to support
sequential growth beyond Q1,” she continued.
NVIDIA’s market platforms include Gaming, Data Center, Professional
Visualization, and Automotive. The company also raised its first-quarter revenue
estimate for its new CMP product for industrial-scale cryptocurrency mining to
$150 million, up from $50 million previously expected.
In its Feb. 24 earnings release, NVIDIA had provided a revenue outlook for its
first fiscal quarter, ending May 2, of $5.30 billion, plus or minus 2 percent.