Nvidia earnings call: GPU pricing, crypto demand, and TAMs

Switch, PC, and crypto all lead to booming growth for Nvidia

Strong sales of graphics processors for gaming PCs and data centers also buoyed first-quarter results. It earned $1.98 a share, up 151% year over year, on sales of $3.21 billion, up 66%, for the quarter ended April 29. Gross margins increased further to 64.5%-an increase of a 2.6 percentage points on the year.

Much of the company's profits, though, can be traced to its gaming-centric products: Of the company's revenue, mainstream graphics cards represented $2.77 billion, while data centre products accounted for only $700 million.

If you're a gamer, there's no need to fret over NVIDIA targeting other markets.

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Earnings per diluted share for the quarter were $1.98, an increase of 20 cents in the last quarter, and a boost of 151 per cent from this time a year ago. This space, which includes GeForce GTX GPUs and the Tegra chips that power the Nintendo Switch, generated $1.72 billion alone.

"Gaming GPU growth was fueled by demand for the best experience while playing esports, momentum of the battle royale genre, and triple-A cinematic games", reads Nvidia's earnings report. As for the datacenter, Huang's favourite thing to bang on about is AI and how Nvidia's GPUs are needed to handle the heavy workloads in training neural networks. The company's TensorRT 4 and DGX-2 hardware and software pairing has proven popular in AI research and development. What's really impressive, though, is that NVIDIA is saw growth in each of its market platforms, including Gaming, Professional Visualization, Datacenter, Automotive, and OEM and IP. With the DGX-2 selling at over $400,000, the manufacturer doesn't have to sell almost as many to keep pace. That means Nvidia only needs to sell a handful to a few A.I. companies to make a huge dent in its earnings.

That might not always have been obvious with the previous shortage, due in part to cryptocurrency mining, though also the high cost of memory. People use its GPUs to process the blockchain algorithm for digital currencies like Ethereum. But during its Q1, Nvidia was still able to bring in $289 million from mining-related activity.

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