GPU AND AI-OBSESSED NVIDIA has posted some impressive financial results for the final quarter of the end of last year.
The firm revealed in its Q4 earnings report 2017 that its total revenues for the quarter swelled by a massive 34 per cent from the previous year, with its revenue for the full fiscal year hitting $9.71bn, up by 41 per cent.
The company’s biggest arm, its gaming category, brought in $1.74 billion of this, and it probably comes as no surprise that it highlighted the success of the Nintendo Switch and its breakout launch as a contributor to this revenue success.
Nvidia also announced that its data centre businesses drove revenues up 34 per cent year-over-year, earning it a whopping $606m.
All of the above helped push the company’s shares up by 10 per cent in the trading hours following the earnings announcement, up by about 83 per cent over the past 12 months.
“We achieved another record quarter, capping an excellent year,” said CEO Jensen Huang, adding that their growth is down to their successful AI products.
“Industries around the world are racing to incorporate AI. Virtually every internet and cloud service provider has embraced our Volta GPUs. Hundreds of transportation companies are using our Nvidia Drive platform. From manufacturing and healthcare to smart cities, innovators are using our platform to invent the future,” he said.
Nvidia’s CFO added that the strong results could also be attributed to a demand for its GPUs related to mining cryptocurrencies, which had “accounted for a higher percentage of revenue than the previous quarter”.
The firm said it had a benefited from a $133 million enacted US tax reform in the quarter, too.
Earlier this year, Nvidia was reported as saying “no” to businesses wanting to uses its consumer-grade GeForce graphics cards in their data centres.
By changing its licensing agreements on its software packages and drivers, Nvidia moved to push companies away from GeForce cards to its Tesla graphics accelerators.
The increase in performance of consumer GPUs, alongside their relatively wallet-friendly prices, have made GeForce cards more appealing to businesses running data centres. µ
Source : Inquirer