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Highlights
- Nvidia CEO Jensen Huang said the company saw “exceptional demand” for computing platforms.
- Its sales jumped 53% YoY to US$7.64 billion in the final quarter of fiscal 2022.
- The company expects revenue of around US$8.10 billion in the first quarter of fiscal 2023.
Nvidia Corporation (NVDA) on Wednesday posted a fourth-quarter profit of US$3 billion as sales rose amid high chip demand.
The chipmaker’s sales jumped 53% YoY to US$7.64 billion in the final quarter of fiscal 2022, beating Wall Street expectations both on profit and sales.
Semiconductor companies see strong demand amid a supply shortfall. Industry experts say the skewed demand and supply ratio will continue until 2024.
The Santa Clara, California-based company is the largest US chip company by market value. The NVDA shares fell by around 1.5% to US$265.11 in the extended-hours trading after the results.
Nvidia CEO Jensen Huang said the company saw “exceptional demand” for computing platforms, boosting advances in AI, gaming, autonomous vehicles to robotics. Huang said Nvidia would announce many new products and applications in the coming months.
The company expects revenue of around US$8.10 billion in the first quarter of fiscal 2023. The GAAP and non-GAAP gross margins are expected to be 65.2% and 67.0%, respectively.
In the fourth quarter, Nvidia paid quarterly cash dividends of US$100 million, and for fiscal 2022, it paid cash dividends of US$399 million. It will pay its next quarterly dividend of US$0.04 per share on March 24, 2022, to shareholders of record on March 3, 2022.
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Fourth-quarter and full-year revenue
Its revenue rose by 53% YoY to US$7.64 billion in the quarter ended January 30, 2022. The company said its gaming, data-center and visualization platforms saw record revenue.
Revenue from the gaming business rose 37% from the year-ago period, while revenue from its data-centers activities increased by 71% YoY. However, car revenue declined 14% from the year-ago period bogged down by supply-chain constraints.
Its GAAP earnings per diluted share was a record US$1.18, up 103% YoY. The Non-GAAP EPS diluted was US$1.32, up 69% from the year-ago period.
For fiscal 2022, the revenue was US$26.91 billion, up 61% from US$16.68 billion a year ago. GAAP EPS diluted was US$3.85, up 123% YoY, while the non-GAAP EPS diluted was US$4.44, up 78% YoY.
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Bottomline
Nvidia last week terminated its agreement with the SoftBank Group Corp to acquire chip-design specialist Arm Limited after “significant” regulatory challenges.
In September 2020, Nvidia had agreed to buy Arm for US$40 billion from SoftBank Group. The plans fell apart after the Federal Trade Commission in December opened a probe into whether the planned acquisition was anticompetitive.
