NVIDIA released quarterly results for the first quarter of fiscal year 2023. With $8.29 billion, a new sales record was reported, 46% higher than the same quarter a year earlier. However, NVIDIA could not turn record sales into record profits, the failed purchase of ARM from SoftBank cost NVIDIA 1.25 billion US dollars.
It gets interesting when you look at how NVIDIA makes its money. The data center business grew 83% year over year, or 15% sequentially, and contributed $3.75 billion in revenue. The GeForce division is up 31% and 6% respectively, so it’s growing less aggressively and therefore only $3.62 billion in sales. NVIDIA achieved more sales with its data center business for the first time. Already at the GPU Technology 2016 conference we were quoted by NVIDIA CEO Jensen Huang as saying:
“NVIDIA isn’t a gaming company anymore” At the time the Pascal architecture was introduced and NVIDIA was still far from par between the data center and GeForce business.
Autos and Robots lag far behind its two main divisions, with sales of $138 million. However, NVIDIA sees significant growth potential here.
For the next quarter, NVIDIA expects sales of $8.1 billion. COVID-19, the lack of business with Russia, and ongoing supply chain issues here are priced at $500 million.
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