Nvidia continues to quadruple sales year-on-year
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AI processor market leader Nvidia exceed expectations with quarterly revenue of US$26.04 billion in its first quarter of FY2025, almost 4x the US$7.19 billion it sold in the same quarter a year before and up 22 percent sequentially.
The company made a net profit of US$14.88 billion representing 57 percent of sales and so, not surprisingly, is increasing its dividend by 150 percent to US$0.10 per share of common stock. The company also announced a 10-for-1 stock split under which the dividend will reduce to US$0.01 per share of common stock.
The revenue substantially beat Nvidia’s own guidance of $24 billion plus or minus 2 percent given in February 2024. On April 28, at the end of the 1QFY25, Nvidia had cash on hand of US$7.59 billion.
Data center dominates
The majority of Nvidia’s sales are into the data center. The first quarter revenue was a record US$22.6 billion, up 23 percent from the previous quarter and up 427 percent from a year ago.
The gaming and AI PC sector, professional visualization and automotive, robotics sectors contributed US$2.6 billion, US$427 million and US$329 million respectively.
“Our data center growth was fueled by strong and accelerating demand for generative AI training and inference on the Hopper platform. Beyond cloud service providers, generative AI has expanded to consumer internet companies, and enterprise, sovereign AI, automotive and healthcare customers, creating multiple multibillion-dollar vertical markets,” said Jensen Huang, founder and CEO of Nvidia, in a statement. “We are poised for our next wave of growth. The Blackwell platform is in full production and forms the foundation for trillion-parameter-scale generative AI. Spectrum-X opens a brand-new market for us to bring large-scale AI to Ethernet-only data centers. And Nvidia NIM is our new software offering that delivers enterprise-grade, optimized generative AI to run on CUDA everywhere – from the cloud to on-prem data centers and RTX AI PCs – through our expansive network of ecosystem partners.”
Nvidia gave a forecast for sales in the second fiscal quarter of US$28.0 billion plus or minus 2 percent.
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