Nvidia on track to become a hundred-billion-dollar-a-quarter company
Nvidia posted a record $96.2 billion in quarterly revenue, driven mainly by its data center business, and projects revenue could hit $108 billion next quarter.
Chipmaker Nvidia reported record overall revenue of $96.2 billion for the past quarter in its latest earnings release, an increase of more than $10 billion over the prior quarter. The company forecasts that within the next few months, quarterly revenue could climb to as much as $108 billion.
Should that forecast hold, Nvidia would join a small group of companies that have crossed the $100 billion mark in quarterly revenue, a milestone already reached repeatedly by Amazon, Apple, and Alphabet.
Data center business drives growth
Most of Nvidia's revenue comes from its data center segment, which more than doubled year-over-year to a record $89 billion. The company's overall profit also more than doubled, reaching $59.7 billion, while total revenue doubled compared to the same period last year.
Consumer segment grows more slowly
Nvidia's "edge computing" category, which includes its consumer gaming business, brought in $7.2 billion last quarter — a 27 percent increase year-over-year, though far smaller than the data center segment. The company acknowledged that consumer PC sales were slowed by elevated memory and systems prices. Ongoing component shortages continue pushing up prices for Nvidia's consumer GPUs, and ahead of Wednesday's earnings report, the company also warned of upcoming price increases for its AI chips.
