Nvidia Financial Results for Second Quarter Fiscal 2022: Revenue and profit increase
Nvidia announced its financial report for the second fiscal quarter of the fiscal year 2022, with revenue of $6.507 billion, exceeding previous expectations and achieving year-on-year growth of 68%, among them, the data center and gaming departments contributed greatly to the increase in net profit by 282% year-on-year. Like rival AMD, Nvidia also has a record quarterly revenue performance. In the past three months, Nvidia’s stock price has risen by 48%, surpassing the 18% increase in the Standard & Poor’s 500 Index over the same period.
The industry generally believes that Nvidia’s dramatic increase in profits in the past few months is due to the shortage of graphics cards. In particular, the cryptocurrency market is soaring, and miners are vying to buy graphics cards, which once made it difficult for players to find a graphics card. However, Nvidia said that the revenue growth is mainly due to the GeForce RTX 30 series of gaming graphics cards based on Ampere architecture. In this quarter, more than 80% of the GeForce graphics cards shipped were LHR version GPUs.