Nvidia hits record revenue high in financial year 2016
February 18, 2016 | 11:57
Graphics giant Nvidia has announced its results for the its last financial year, and it's a record-breaker with a whopping $5.01 billion in revenue - up seven per cent on the previous year.
Nvidia's best-ever year comes as it continues to dominate the market for add-in graphics cards: its products command a healthy margin at a company-wide 56.1 per cent - up from 55.5 per cent in the last financial year - but its expenses have also risen. While its revenue of $5.01 billion is up seven per cent year-on-year, the company's operating expenses have grown by 12 per cent to $2,064 billion. All-told, that means operating income for the year was down two percent to $747 million - a minor disappointment, perhaps, but still figures its biggest rival AMD would love to have.
'We had another record quarter, capping a record year,' crowed Jen-Hsun Huang, co-founder and chief executive officer of Nvidia, at the announcement. 'Our strategy is to create specialised accelerated computing platforms for large growth markets that demand the 10x boost in performance we offer. Each platform leverages our focused investment in building the world's most advanced GPU technology.
'Nvidia is at the centre of four exciting growth opportunities: PC gaming, VR, deep learning, and self-driving cars. We are especially excited about deep learning, a breakthrough in artificial intelligence algorithms that takes advantage of our GPU's ability to process data simultaneously,' Huang added. 'Deep learning is a new computing model that teaches computers to find patterns and make predictions, extracting powerful insights from massive quantities of data. We are working with thousands of companies that are applying the power of deep learning in fields ranging from life sciences and financial services to the Internet of Things.'