Nvidia: RTX 30 Series Was Our Most Successful Video Card Launch Ever

Nvidia says the release of its RTX 30 graphics cards is the most successful ever. Despite the deficits, quarterly revenue rose to a record high of $5.66 billion. Nvidia expects the shortages to continue into the second half of this year.

Sales in the first quarter of this year were 84 percent higher than in the same quarter a year ago. This large growth is mainly due to the release of the RTX 30 series at the end of last year. Turnover was also 13 percent higher than in the previous quarter. This is remarkable, because turnover in the first quarter of the year is usually lower than in the fourth quarter of a year, which includes the holidays.

In a conversation with investors, which can be read at Seeking Alpha, Nvidia CFO Colette Kress says the RTX 30 series was the “most successful launch ever”. Demand for the video cards is “incredibly high”, according to the CFO, which sets records in sales of both desktop and laptop GPUs.

The demand for video cards still exceeds the supply, resulting in very high prices. Nvidia expects that demand will exceed supply until the second half of this year. The company thinks that many gamers with a GTX video card will want to upgrade to an RTX variant.

According to Nvidia, the gaming division has also benefited from the demand for GPUs for crypto mining, but it is difficult to estimate how much that will affect the numbers. The CMP cards made specifically for miners had revenue of $155 million in the first quarter and Nvidia expects that to increase to $400 million in the next quarter.

By far, Nvidia gets the most revenue from the sale of products for gamers and data centers. Those categories accounted for quarterly sales of $2.76 billion and $2.05 billion, respectively.

Nvidia posted a net profit of $1.91 billion in the quarter. That is 109 percent more than a year ago in the same period. The company expects further growth in the next quarter; revenue is then expected to rise to $6.3 billion.