NVIDIA Profit Surges on Record Revenue Growth
NVIDIA (NASDAQ: NVDA) reported the results of its fiscal 2022 first quarter (ended May 2, 2021), and the results were remarkable even by historical standards. Revenue of $5.66 billion soared 84% year over year, while its diluted earnings per share (EPS) climbed to a record $3.03, up 106%. It's worth noting that revenue and non-GAAP EPS grew 13% and 18%, respectively compared to the fourth quarter of 2021.
The results were driven higher by unexpected strength across NVIDIA's operating segments. While market watchers had been expecting a slowdown in the demand for processors used in gaming, revenue from the segment jumped 106% to a record $2.76 billion. Data center revenue was equally stout, surging 79% year over year to $2.05 billion. The professional visualization segment, though much smaller, did its part, delivering record revenue of $372 million, up 21%.
NVIDIA GeForce RTX 30 series of processors. Image source: NVIDIA.
Source Fool.com
