Nvidia Posts 50% YoY Growth in Quarterly Revenues

Yesterday, Nvidia reported its financial numbers for the quarter ended 31 October 2021. The company’s revenues reached a record high of $7.1 billion in the latest quarter. Nvidia’s Data Center Data Center A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more Read this Term, Gaming and Professional Visualization market platforms performed exceptionally in Q3 of FY 2022.

Nvidia saw GAAP earnings per diluted share of $0.97 for the quarter, which is 83% higher compared to the same quarter last year. In terms of non-GAAP earnings per diluted share, the number reached $1.17, increasing 60% from a year ago.

During the recent quarter, Nvidia paid cash dividends worth $100 million. The company is planning to pay its next quarterly cash dividend of $0.04 per share on 23 December 2021 to all shareholders of record on 2 December 2021.

“The third quarter was outstanding, with record revenue,” said Jensen Huang, the Founder, and CEO of NVIDIA. “Demand for NVIDIA AI is surging, driven by hyper-scale and Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term scale-out, and broadening adoption by more than 25,000 companies. NVIDIA RTX has reinvented computer graphics with ray tracing and AI, and is the ideal upgrade for the large growing market of gamers and creators, as well as designers and professionals building home workstations.”

Omniverse

For the quarter ended 31 October 2021, Nvidia reported a sharp increase in the overall interest related to the Omniverse platform. Nvidia's Omniverse Avatar is a platform for generating interactive AI avatars, which connects the company’s technologies in speech AI, computer vision, natural language understanding, recommendation engines and simulation technologies.

“Omniverse was a major theme at GTC. We showed what is possible when we can jump into virtual worlds. Omniverse will be used from collaborative design, customer service avatars and video conferencing, to digital twins of factories, processing plants, even entire cities. Omniverse brings together NVIDIA’s expertise in AI, simulation, graphics and computing infrastructure. This is the tip of the iceberg of what’s to come,” Huang added in the press release.