Nvidia Announces First Quarter Fiscal Year 2023 Earnings
Nvidia today announced its financial results for the first quarter of fiscal 2023, showing that the hot sales of GPUs have driven revenue growth, and the gaming and data center businesses are still its mainstays, all achieving record results. “We delivered record results in Data Center and Gaming against the backdrop of a challenging macro environment,” said Jensen Huang, founder, and CEO of NVIDIA. “The effectiveness of deep learning to automate intelligence is driving companies across industries to adopt NVIDIA for AI computing. Data Center has become our largest platform, even as Gaming achieved a record quarter. We are gearing up for the largest wave of new products in our history with new GPU, CPU, DPU and robotics processors ramping in the second half. Our new chips and systems will greatly advance AI, graphics, Omniverse, self-driving cars and robotics, as well as the many industries these technologies impact.”
The financial report shows that in the first quarter of the fiscal year 2023, Nvidia’s revenue reached $8.29 billion, an increase of 46% year-on-year and an increase of 8% month-on-month; net profit was $1.62 billion, down 15% year-on-year and 46% month-on-month; gross profit margin reached 65.5%, a year-on-year increase of 1.4 percentage points and a month-on-month increase of 0.1 percentage points. Among them, the game business revenue was $3.62 billion, a year-on-year increase of 31% and a month-on-month increase of 6%; the data center business revenue was $3.75 billion, an increase of 83% year-on-year and a quarter-on-quarter increase of 15%; visualization business revenue was $622 million, a year-on-year increase of 67% and a month-on-month decrease of 3%; automotive revenue was $138 million, down 10% from a year ago and up 10% from the previous quarter.
In the first quarter of fiscal 2023, Nvidia’s revenue performance beat analysts’ expectations, but net profit fell short of expectations. Nvidia expects revenue for the second quarter of fiscal 2023 to be $8.1 billion, plus or minus 2%, down $500 million due to the COVID-19 and geopolitical impacts.