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Nvidia posted its all-time record quarterly revenue of $6.507 billion for its second quarter of F2022 that ended on August 1, marking a 68.3% over a year. As revealed, the company’s sales were driven by the high demand for high-end gaming GPUs, utilized for Proviz applications and crypto mining.
Nvidia Revenue Driven by GPUs for Crypto Mining
The revenue of the graphics cards manufacturing company has been gradually increasing ever since the company made an announcement regarding the launch of its GeForce RTX 3000 series ‘Ampere’ GPUs last September. The card managed to rapidly gain acceptance among gamers despite really high MSRPs.
In the second quarter, it should be noted that the products of the company for automotive applications were also on the rise.
Alongside the revelation of high revenue of $6.507 billion, Nvidia posted a $2.374 billion net income in the second quarter of the financial year 2022, marking a 282% increase over $622 million in Q2 FY2022.
In addition to this, it should be noted that the sales of the gaming hardware of Nvidia in Q2 FY2022 stood at $3.061 billion, which is up 11% sequentially and up 85% year-over-year.
Third Quarter to be the most Profitable Always
The company also revealed that the sales of the crypto mining processors of the Nvidia, lineup totaled $266 million, which is notably up from around $150 million back in the first quarter of the financial year 2022.
Meanwhile, it should be noted that the profitability in Etheruem mining has witnessed a plunge and as a result of this, it is expected that the sales of Nvidia CMP will collapse.
It has been reported that for firms like Nvidia, the third quarter always proves to be successful than the previous ones because the PC makers deliberately increase orders as they are preparing for holiday seasons.