NVIDIA Reports Strong Q1 2021 Earnings With Record Data Center Revenue
NVIDIA achieves $3.08 billion in Q1 revenue, a 39 percent year-over-year increase, while its Data Center business hits $1 billion for the first time. The company also completes its $7 billion acquisition of Mellanox Technologies.
NVIDIA reports $3.08 billion in revenue for the first quarter of fiscal 2021, representing a 39 percent increase from the same period last year. The company sees significant growth in GAAP earnings per diluted share, which jump 130 percent year-over-year to reach $1.47. While these figures show a slight sequential decline, the overall financial performance highlights robust demand across the board.
The Data Center business achieves a major milestone by generating its first $1 billion quarter, driven by the accelerating adoption of AI and cloud computing. NVIDIA also officially completes its $7 billion acquisition of Mellanox Technologies, a move that expands the company's capabilities in cloud and data center infrastructure. Additionally, the company launches and ships its new Ampere GPU, raising the standard for AI computing.
Despite global market uncertainties caused by the COVID-19 pandemic, NVIDIA successfully transitions its GPU Technology Conference to a fully digital format that attracts over 55,000 registered participants. The company pays $98 million in dividends during the quarter and states its ongoing commitment to its quarterly dividend, though it pauses share repurchases to maintain financial flexibility. CEO Jensen Huang praises the company's excellent quarter and expresses gratitude to healthcare workers and scientists battling the pandemic.