Nvidia revenue to $ 5 billion
Wednesday, February 24, 2021 11:16 PM
(ABM FN-Dow Jones) Nvidia posted record sales last quarter, driven by strong demand for gaming console chips in short supply.
“The fourth quarter was another record quarter, as it ended a year of hacking Nvidia’s computing platforms,” said founder and CEO Jensen Huang. Talk about an “incredible” demand for the company’s GeForce RYX 30 GPUs.
“Our pioneering work in the field of fast computing has led to games becoming the most popular entertainment in the world and the emergence of artificial intelligence as the first force in technology.”
Sales increased 61% from $ 3.11 billion a year earlier to $ 5.00 billion. Compared to the previous quarter, sales increased 6% to $ 4.73 billion.
Earning per share was $ 2.31, or 51 percent higher than the previous year and 9 percent higher than in the third quarter.
The annual turnover of $ 16.7 billion was more than half the year before.
Nvidia said it is making “good progress” on the planned acquisition of ARM.
Nvidia expects sales of $ 5.3 billion for the first quarter, by a 2 percent margin.
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