NVIDIA Shatters Revenue Records With 84 Percent Growth in Q1 2022
NVIDIA reports record first-quarter revenue of $5.66 billion, fueled by massive surges in both gaming and data center sales. The company also announces a four-for-one stock split pending shareholder approval.
NVIDIA reports record first-quarter revenue of $5.66 billion, representing an 84 percent increase from the previous year. This massive growth stems primarily from record-breaking performances in the company's Gaming and Data Center platforms, which generate $2.76 billion and $2.05 billion respectively. CEO Jensen Huang attributes this fantastic quarter to strong global demand for NVIDIA products across multiple industries.
The integration of Mellanox plays a significant role in transforming NVIDIA into a data-center-scale computing company, exceeding expectations in its first year. NVIDIA RTX technology continues to reinvent computer graphics, driving major upgrades in both the gaming and design markets. Additionally, the adoption of NVIDIA AI for computer vision, conversational AI, and natural language processing accelerates rapidly across various global industries.
Alongside these financial milestones, NVIDIA's board of directors declares a four-for-one split of the company's common stock. This stock dividend is expected to distribute on July 19, 2021, pending stockholder approval to increase authorized shares from 2 billion to 4 billion. The company also maintains its shareholder returns by paying $99 million in quarterly cash dividends and announcing a subsequent dividend of $0.16 per share for the next quarter.