Thirteen months ago, the company’s share price was 33 US dollars. In recent days, the company’s stock price has broken through 210 US dollars again. This is a "rising miracle" created by NVIDIA in less than two years.
Recently, NVIDIA released the company’s third quarter fiscal year 2018 financial report after the US stock market closed on Thursday. The third-quarter results surpassed previous expectations of Wall Street analysts. NVIDIA’s share price also rose after excellent results were announced. It was 3.2% higher than the closing price.
Among them, NVIDIA's overall revenue for the quarter was US$2.636 billion, up 32% from the same period of last year and more than US$2.36 billion previously given by Wall Street analysts; net profit also hit another record in this quarter, reaching US$838 million, which was the same period of last year. It rose 55%, exceeding the $592 million that Wall Street analysts had given.
NVIDIA thus reversed the stock price that had continued to fall in the past two days, and the stock price once again stood at a high of 210 dollars. And 13 months ago, that is, January 1, 2016, when NVIDIA's opening price was only 33 dollars, the difference between the two prices was more than six times. And even if the rally is so sharp, there are still Wall Street analysts believe that the current stock price is not enough to measure the value of this company, analysts have given the highest target price has been raised to 250 US dollars.
Why are we all optimistic about NVIDIA? Under the overall figure, how did NVIDIA perform in the third quarter? Can NVIDIA continue to "rise" next?
First, the overall data continues to "car"
Although both revenue and net profit increased in the third quarter of 2017, the year-on-year growth rate of 32% and 55% cannot be considered worse. What's more, the increase in net profit is larger than the revenue, indicating that at least in terms of internal efficiency, NVIDIA has refined this quarter.
Second, the GPU sells well, the cost has risen but the control is good
As the two main sources of revenue for NVIDIA, the revenue comparison between GPU and Tegra processors can clearly show some trends. In this quarter, GPU products generated a total revenue of US$2.217 billion, an increase of 31% over the same period of last year. This result is also due to a variety of factors, such as the performance of Pascal-based gaming graphics cards, and the rapid growth of data center services (more detailed below).
Although the final revenue figures, the GPU is much higher than the Tegra, but the latter is actually a larger year-on-year increase, this quarter increased by 74% compared to the same period last year. In addition to the automotive business that we are very concerned about, the Tegra SOC chip in the Nintendo Switch has also contributed a part of this quarter.
Of course, just looking at revenues does not work, and the cost change is also worthy of attention. In NVIDIA's corporate system, there are two main costs. Among them, the amount of R&D expenditures was 462 million U.S. dollars, an increase of 11% compared with the previous quarter, and there were significant changes. The “sales, production and daily management costs†was relatively stable, with a year-on-year increase of 24%.
In the past 3 years, NVIDIA's investment in R&D is actually very stable. The volatility between quarters is often only a single digit. Then the 11% volatility and extra $50 million is likely to be behind NVIDIA. The next big move. As for what product is it? It would have to wait until NVIDIA announced it.
Third, revenue sources: the largest contribution of the game this quarter
What kind of business did NVIDIA achieve such a good performance this quarter? It is not difficult to see from the sales figures and ratios of the above business segments that the game graphics business is still the pillar of NVIDIA's major businesses. It not only brought in $1.561 billion in revenue, but also accounted for 59% of the overall revenue.
Of course, the dramatic increase in the performance of gaming graphics can't obscure the progress made by other businesses. Taking this quarter as an example, the data center business grew by 109% year-on-year, and the overall revenue exceeded US$500 million for the first time.
Fourth, Huang Renxun said
For this quarter's performance, NVIDIA CEO Huang Renxun also published his own overall opinion on the official website: “The numerous growth factors have enabled us to have a good quarterly performance. At the same time, we are pleased to see that industries around the world are working on Accelerate the application of artificial intelligence."
At the same time, Huang Renxun also revealed the progress of several key business of NVIDIA: Volta architecture GPU has been accepted by computer hardware and cloud service providers. The new Tensor RT 3.0 promotes our continued growth in ultra-large-scale data centers, GeForce graphics cards and Nintendo. Switch game consoles are just entering the strong growth of the game industry, and the new automated driving platform Drive PX Pegasus is also being accepted by more and more companies.
The final conclusion is that NVIDIA is ready for "continuous growth."
V: Summary
With the help of excellent vision and powerful technical layout, NVIDIA is still rolling forward. Of course, these words from their own mouths do not seem to have credibility, but the industry's response is the best proof.
On November 7, AMD announced that Raja Koduri, the company’s chief GPU architect and senior vice president of Radeon, has left. On November 8th, Intel announced that Raja Koduri has joined and appointed Intel as Chief Architect and Senior Vice President in the newly established Core and Visual Computing Group.
According to Intel’s official blog, under the leadership of Raja Koduri, Intel will integrate and expand differentiated intellectual property in areas such as computing, graphics, media, and machine intelligence, involving clients & data centers, artificial intelligence and some potential opportunity.
Although both Intel and AMD have a rich history, they both laid down their identities for many years and took their own strengths (AMD is a human and graphics processor technology, and Intel is accumulating artificial intelligence) to collaborate deeply. . Do not think about it, it must be due to the pressure of the two rivals NVIDIA.
Of course, how do you start late in the evening, and NVIDIA is currently in a position to have “absolutely catch up†with the absolute right to speak? Can NVIDIA continue its previous rhythm and continue to demonstrate its technical strength in products? These should all be words.
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