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11 May 2018, 09:26 | Jodi Jackson
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Well, it was another record-setting affair with revenue of $3.2 billion (£2.4 billion, AU$4.3 billion) recorded, which is up by two-thirds year-on-year. But, considering the gaming revenue of Nvidia in Q1 this year was some $1.7 billion, that's barely going to be noticed by Jen-Hsun and co.
Nvidiasaid it intends to return $1.25 billion to shareholders through ongoing quarterly cash dividends and share repurchases for fiscal 2019.
Jensen Huang, CEO of Nvidia, commented: "We had a strong quarter with growth across every platform". Earnings per share ended up at U.S. $1.98, which is also up by 151 percent compared to past year. "Gamers who had been priced out of the market last quarter" were able to get their hands on new chips a reasonable price, she said.
US-based technology giant Nvidia Corporation has reported a major rise in its revenues of 66 per cent from a year earlier to hit a record of $3.21 billion in the first quarter of fiscal 2019 ending on April 29, 2018.
Crypto chip sales made up about 9% of Nvidia's total sales last quarter. "Our data center business achieved another record and gaming remained strong".
Analysts had predicted somewhat lesser earnings, $200 million, but extra earnings didn't translate to a better position for the company.
Investors shouldn't obsess about the crypto business, Rosenblatt Securities analyst Hans Mosesmann said.
If you're a gamer, there's no need to fret over NVIDIA targeting other markets.
"The crypto thing is no longer a relevant bear theme", Mosesmann said in a note to clients.
Needham analyst Rajvindra Gill maintained his buy rating and upped his price target to 325 from 300. Even the company's profit margin has grown, rising from 59.4 percent a year ago to a more than healthy 64.5 percent this year. Gill expects data-center and autonomous-driving markets to continue to provide robust growth.
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