NVIDIA has posted record sales in its fourth-quarter, beating analyst expectations. The company’s earnings per share stood at USD 1.32 with USD 7.64 billion in revenue, while analysts forecasted an EPS of USD 1.22 on a revenue of USD 7.41 billion.
The growth in revenue was led by its gaming business which grew by 37% to a record revenue of USD 3.42 billion for the quarter on a year-on-year basis. Cloud revenue hit a record of USD 3. 26 billion, up by 11% from the same quarter last year. Despite doubled profits, NVIDIA shares fell by 1.20% in the after-market hours.
Gaming, data center and professional visualisation market platforms each achieved record revenue for the quarter and year, the company said.
NVIDIA CEO Jensen Huang said the company’s networking across several data centers were affected by supply constraints. “We still have some supply constraints across a number of businesses. But we’re improving every single day and we do expect to improve supply each quarter as we enter into fiscal year ’23,” he said.
The earnings report comes a week after NVIDIA’s bid to acquire chip designing firm Arm Ltd. worth USD 40 billion fell apart. NVIDIA will record the write-off for the deal worth USD 1.36 billion for the prepayment in the first fiscal quarter of 2023. “We gave it our best shot. But, the headwinds were too strong and we could not get regulators the comfort they needed to approve our deal,” Huang said.
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