Nvidia achieves record turnover due to popularity of battle royale games and crypto mining
Nvidia has again presented record quarterly figures. Revenue from its main division, Gaming, rose 68 percent. Nvidia attributes this to the popularity of battle royale games and crypto mining. The prices for video cards will normalize, Nvidia expects.
Nvidia’s revenue from its Gaming division, which includes GeForce cards, rose from $1 billion last year to $1.7 billion. According to Nvidia, the popular battle royale genre is fueling a new wave of GeForce buyers. In addition, the company mentions Far Cry 5 and Final Fantasy XV as games that boosted video card sales last quarter.
The current GeForce generation is based on the Pascal architecture, which Nvidia introduced two years ago and now 35 percent of GeForce card owners have a Pascal GPU. Nvidia also mentions the Nintendo Switch and an increase in the number of notebooks with Max-Q GPUs as sales drivers.
Demand for cryptocurrency mining cards was higher than Nvidia expected. With its cards specifically aimed at that market, the company made $289 million in revenue. For the coming quarter, Nvidia expects that turnover to be a third of that, but both Nvidia and AMD are invariably cautious about this volatile market.
In any case, the worst scarcity due to crypto mining in particular is over, according to Nvidia. There were still shortages at the beginning of the first quarter, but these have now passed and prices will fall to normal levels, the company said.
Nvidia’s other divisions also performed well, especially those for data centers. That revenue grew 71 percent to $701 million. Professional Visualization, which includes Quadro cards, increased by 22 percent and Automotive, with Tegra chips, by 4 percent. In total, sales amounted to $3.2 billion, an increase of 66 percent. Net profit rose 145 percent to $1.2 billion.