12 May, 2018
Nvidia has again posted record revenues in its fiscal first quarter for 2019, boosted by gains across the board, but especially from new highs at datacenter and a strong contribution from gaming. Nvidia shares have gained 34.4 percent this year, propelling the stock to the top of the Philadelphia Semiconductor Index. For fiscal 2019, it plans to return United States dollars 1.25 billion.
The company's OEM and IP segment grew 148% during the same period. During the company's conference call to discuss first-quarter results, crypto sales are expected to drop during the second-quarter.
Nvidia predicts those sales will decline by two-thirds during the current quarter, which is an unexpectedly sharp decline.
If you're a gamer, there's no need to fret over NVIDIA targeting other markets. Not only is mining on the downturn, but new Ethereum-capable Bitmain ASICs also threaten to reduce demand for GPUs severely.
Gross profit reached $2.07 billion, up from $1.15 billion in 2017.
Nvidia in March suspended self-driving tests across the globe, a week after an Uber Technologies autonomous vehicle struck and killed a 49-year-old woman crossing a street in Arizona.
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Nvidia expected to make $200 Million through cryptocurrency sales but made almost 50% more.
Per Nvidia's CEO Jensen Huang, the company managed to beat expectations thanks to demand created by cryptocurrency miners. He added that gamers who had been priced out of the market are now being able to buy GPUs at a reasonable price.
There is still no word on when we may see a successor to Pascal in the gaming GPU market, but hopefully we'll get more news on that front in the coming months.
And we felt that using one gaming brand, a graphics card brand, and interchanging the GPU underneath causes it to be less - causes it to be more opaque and less transparent for gamers to choose the GPU brand that they wanted. And so we made a decision to pull the plug because the distraction was unnecessary and we have too much good stuff to go do. The gross margin ended at 64.5 percent, up by 2.6 percent compared to the last quarter and 5.1 percent compared to the previous year.
The automotive department is still hanging on, and although it is the lowest earner compared to other departments, it still brought USA $145 million, up by 10 percent compared to the last quarter and 4 percent compared to the same quarter past year. That should accelerate as DGX-2 sales kick in.
Nvidia is a key player in transitioning data centers to graphics processing units from central processing units, he said. The crypto craze has slowed down, which has helped supply and demand stabilize for the first time in a year. Earlier, the stock had closed at a record $260.13 in NY.