Nvidia reported record quarterly data-center sales of $968 million Thursday, an unexpected and eye-popping number, writes tpoletti.
Nvidia Corp. saw a huge turnaround at the end of a rough year, powered in large part by a surge in sales of its graphics processors into the data-center market.
The beat was a welcome end to a brutal year, in which Nvidia dealt with a “crypto hangover” that slammed its gaming business and a strange stall in the server business as some hyperscale cloud providers slowed purchases. The company’s stock has rebounded along with the business in the past six months, with shares up 73.5%, as the S&P 500 index SPX, -0.16% has increased 15.3%.
“All of these key areas were growing,” Colette Kress, Nvidia’s chief financial officer, said in a brief interview with MarketWatch. “The industries are still in early stages.” “We are still in the really early days of coronavirus,” Kress said, adding that is the company’s best estimate of the potential lost revenue, split between gaming and data center.
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