With the decrease in mining pressure, video card stocks, which started to return to normal, reflect positively on Nvidia’s financial reports. The company’s first quarter figures point to a new record.
Nvidia broke the record
According to the financial statements announced, total revenue in the first quarter broke a record with 8.28 billion dollars. Annual growth was 46 percent. Nvidia managed to reach the highest revenue level each quarter. However, some expenses have increased.
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Paying around $1.5 billion due to the collapse of ARM negotiations, Nvidia’s total expenditure was $3.56 billion, while net profit fell by $1.6 billion to 50 percent.
While a 31 percent increase was achieved with 3.62 billion dollars on the gaming side, an increase of around 83 percent was achieved on the data center side with 3.75 billion dollars. Data center revenues are expected to surpass player revenues in the near term. Automotive technologies division, on the other hand, closed this period with a loss. Revenues are expected to decline slightly in the second quarter due to the withdrawal from Russia and restrictions in China.
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