NVIDIA announced that revenue in the first quarter ended May 1, 2022 hit a record $8.29 billion, an increase of 46% from the same period last year and an increase of 8% from the previous quarter, with both data centers and games setting revenue records.
Quarterly GAAP diluted earnings per share reached US$0.64, down 16% from the same period last year and 46% from the previous quarter, including the after-tax impact of US$0.52 related to the termination fees of the US$1.35 billion Arm acquisition. Quarterly non-GAAP diluted earnings per share was $1.36, up 49% from the same period last year and 3% from the previous quarter.
NVIDIA Founder and CEO Huang Renxun said: "In the context of the challenging macro environment, our data centers and games have achieved record results. The effectiveness of deep learning on intelligent automation is driving companies from all walks of life to use NVIDIA's products for AI computing. While games set quarterly results, data centers have also developed into our largest platform."
Huang Renxun said: "We Preparing for the largest ever new product launch, all-new GPUs, CPUs, DPUs and robotic processors will be launched in the second half of the year. Our new chips and systems will greatly promote the development of AI, graphics, Omniverse, autonomous driving and robotics, and many industries affected by these technologies. "
" NVIDIA paid shareholders $2.1 billion in the first quarter of fiscal year 2023 through stock buybacks and cash dividends.
outlook
NVIDIA's outlook for the second quarter of fiscal year 2023:
Revenue is expected to reach US$8.1 billion, up and down by 2%, including about US$500 million cuts related to the situation in Russia and China's COVID-19 epidemic.
The gross profit margins of GAAP and non-GAAP are expected to be 65.1% and 67.1%, respectively, with 50 benchmark points floating up and down respectively.
GAAP and non-GAAP operating expenses are expected to be approximately US$2.46 billion and US$1.75 billion, respectively.
GAAP and non-GAAP other income and expenses are expected to be approximately US$40 million, excluding the income and losses of non-related investments.
Both GAAP and non-GAAP tax rates are expected to be 12.5%, with a floating up and down by 1%, excluding any discrete terms.
highlights
Since the last financial report, NVIDIA has made progress in the following areas:
data center
The first quarter revenue hit a record of US$3.75 billion, an increase of 83% year-on-year and 15% month-on-month.
Launches the NVIDIA Hopper™ GPU architecture that achieves orders of magnitude performance improvement over the previous generation; the first NVIDIA® H100 Tensor Core GPU based on the Hopper architecture and integrates 80 billion transistors; and the fourth generation of NVIDIA DGX™ H100 system for AI infrastructure construction.
Launches Arm®'s NVIDIA Grace™ CPU Super Chip, which is based on interconnecting two CPU chips through the new high-speed, low-latency, chip-to-chip NVLink®-C2C technology.
Computer manufacturers such as Asus, Foxconn Industrial Internet, Gigabyte Technology, Vanda Technology, Supermicro and Weiying will soon release the first batch of systems equipped with NVIDIA Grace Hopper and Grace CPU super chips, and will be launched in the first half of 2023.
Launches the world's first 400Gbps end-to-end networking platform NVIDIA Spectrum™-4, which enables the ultimate performance and strong security required for large-scale data center infrastructure.
Announces important updates to the NVIDIA AI platform, including enterprise-class software for advancing workloads such as voice, recommendation systems, hyperscale reasoning, and announcing the NVIDIA AI acceleration program to help ensure the performance and reliability of AI applications developed by NVIDIA partners.
Launches NVIDIA OVX™, a scalable server designed to create industrial digital twins in Omniverse. NVIDIA OVX™ combines high-performance GPU-accelerated computing, graphics processing, and AI, and is equipped with high-speed storage access, low-latency networking and precise timing.
Releases more than 60 NVIDIA CUDA-X™ collection updates, including libraries, tools and technologies, covering a wide range of disciplines.
Release NVIDIA Clara™ Holoscan MGX, a platform for the development and deployment of edge real-time AI applications in the medical device industry, designed to meet industry regulatory standards.
Announced a partnership with Microsoft Azure to adopt NVIDIA vGPU software and NVIDIA A10 Tensor Core GPU in one of its extended virtual cloud products.
Announces a strategic cooperation with The Kroger Co. to reshape the shopping experience with AI-enabled applications and services.
Working with UF Health (Academic Health Center at the University of Florida) to jointly develop a neural network capable of generating synthetic clinical data.
game
Revenue in the first quarter reached a record US$3.62 billion, a year-on-year increase of 31% and a month-on-month increase of 6%.
Introduced the GeForce RTX® 3090 Ti, the most powerful consumer-grade GPU ever.
Announced 15 new games that support NVIDIA RTX optimization - including Dying Light 2 Stay Human, Ghostwire: Tokyo and Shadow Warrior 3. There are now more than 250 RTX-enabled games and applications.
Announces that players can now realize RTX 3080 level game streaming through the GeForce NOW™ monthly subscription plan.
Expand the GeForce NOW game library, adding more than 100 new games - including Lost Ark, Need for Speed: Heat and Life is Strange: Remastered. The total number of GeForce NOW game library exceeds 1,300.
Launch "Fortnite" with mobile touch function on GeForce NOW, streaming through iOS's Safari web browser and GeForce NOW Android version.
Professional Vision
Revenue in the first quarter was US$622 million, a year-on-year increase of 67% and a month-on-month decrease of 3%.
Release a new NVIDIA Ampere architecture RTX GPU for workstations, allowing more people to use AI and ray tracing technology. Announced the launch of the Omniverse Cloud service, which will allow millions of Mac and Chromebook users to instantly access NVIDIA Omniverse™ to enable collaborative editing of large 3D scenes anywhere, the service will be available next year.
Announced that Amazon Robotics is leveraging Omniverse Enterprise to build AI-enabled digital twins for its warehouses, thereby optimizing warehousing design and training smarter robot solutions.
Automobile and Robot
Automobile revenue in the first quarter was US$138 million, a year-on-year decrease of 10% and a month-on-month increase of 10%.
Mass production of the NVIDIA DRIVE Orin™ autonomous vehicle computing platform has begun, and more than 35 automakers have chosen to use this computing platform.
Announced Lucid Motors and BYD to become new customers, increasing NVIDIA's automotive business revenue to more than US$11 billion in the next six years.
Launches the multi-mode map platform NVIDIA DRIVE™ Map, which has DeepMap measurement map technology, aiming to achieve the highest level of autonomous driving and improve safety.
NVIDIA Orin set a new AI inference performance record when it first participated in the MLPerf benchmark test. Its running speed is 5 times faster than the previous generation of products and its energy efficiency is 2 times higher on average.
Announced the launch of the NVIDIA Jetson™ AGX Orin Developer Kit, whose production modules will be shipped in July, and the launch of Isaac Nova Orin, the most advanced AI computing and sensor reference platform designed to accelerate the development of autonomous mobile robots.
On May 23, 2022, the board of directors expanded and extended the company's stock repurchase plan, adding additional repurchases of common stock with a total value of no more than US$15 billion by December 2023.
In addition, NVIDIA will pay a next quarter cash dividend of US$0.04 per share to all shareholders registered on June 9, 2022 on July 1, 2022.
