Today's video focuses on Nvidia (NVDA 1.08%) and its recent earnings, reported on Nov. 17 after the market closed. Here are some highlights from the video.
- Nvidia reported revenue of $7.1 billion, up 50% year over year (YOY) and 9% quarter over quarter. The growth was due to data center revenue of $2.9 billion, up 55% YOY, and gaming revenue of $3.2 billion, up 42% YOY.
- Nvidia is still experiencing headwinds from the following events. Its automobile segment saw a sequential decrease in revenue due to car manufactures facing supply constraints. The demand for its networking products continues to outstrip supply. GPU channel inventory remains low due to the chip shortage.
- During the earnings call, management highlighted the strength of Nvidia's AI products. Over 25,000 companies have used Nvidia's AI Inference product, and numerous large-cap companies have adopted and are testing Nvidia's Omniverse.
Click the video below for my full thoughts and analysis.
*Stock prices used were the opening prices of Nov. 17, 2021. The video was published on Nov. 17, 2021.
