Nvidia’s Quarterly Revenue Hits All-Time High of $7.1 Billion

Table of Contents A New RecordGaming, Mining, OEMsDatacenterProVizAutomotiveOutlook and Prepayments As a result of growing

As a result of growing demand for virtually all of its product lines, Nvidia on Wednesday reported its all-time record quarterly revenue for Q3 FY2022. The company’s sales reached $7.103 billion for the first time in its history as the company faced unprecedented demand for its high-end gaming, datacenter, and professional visualization (ProViz) products. The company still cannot meet demand for all of its products and to address the issue it had to sign long-term contracts worth about $3.4 billion with its suppliers to secure production capacity.

A New Record

Introduced last year, Nvidia’s Ampere architecture for gaming and datacenter GPUs has now reached all product lines and appropriate products have been fully ramped up. As a result, Nvidia can now offer an Ampere-based product for all market segments and virtually all price points. Meanwhile, given that demand for GPUs exceeds supply, the company enjoys very high average selling prices (ASPs) as well as very high margins. 

(Image credit: Nvidia)

Nvidia’s $7.103 billion revenue for the quarter ended on October 31, 2021, was 9% higher compared to the previous quarter and 50% higher compared to the third quarter of its previous fiscal year. In addition to record sales, Nvidia also reported a $2.464 billion net income, an 84% increase over $1.336 billion in Q3 FY2021. The company’s gross surged to a record 65.2%, up from 62.6% in the same quarter a year ago.

(Image credit: Nvidia)

“The third quarter was outstanding, with record revenue,” said Jensen Huang, chief executive of Nvidia. “Demand for NVIDIA AI is surging, driven by hyperscale and cloud scale-out, and broadening adoption by more than 25,000 companies. Nvidia RTX […] is the ideal upgrade for the large, growing market of gamers and creators, as well as designers and professionals building home workstations.”

Gaming, Mining, OEMs