Nvidia announced on its annual investor day today that its revenue in the first quarter of the fiscal year 2022 will exceed the previously provided expectations, and it will perform well on every market platform.
The company said that although the first quarter of the 2022 fiscal year has not yet been completed, its total revenue in the first quarter has exceeded the $5.3 billion predicted on the year-end earnings conference call.
Colette Kress, executive vice president and chief financial officer of Nvidia, said, “Nvidia is in a period of strong growth, and all market platforms are pushing to exceed initial expectations.” “Overall demand is still very strong and continues to exceed supply, and our channel inventory is still quite small. We expect to continue to be in short supply for most of this year.”
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Nvidia’s market platforms include games, data centers, professional visualization, and automobiles. The company also raised its first-quarter revenue forecast for its new CMP product for cryptocurrency mining to 150 million U.S. dollars, higher than the previous estimate of 50 million U.S. dollars.
