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INTEL CORPORATION

(INTC)
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Nvidia expects first-quarter sales to exceed $5.3 billion

04/12/2021 | 03:07pm EDT
FILE PHOTO: The logo of technology company Nvidia is seen at its headquarters in Santa Clara

(Reuters) -Nvidia Corp's first-quarter revenue will be above its earlier forecast of $5.3 billion, the chipmaker said on Monday, as it benefits from strong demand for chips that power data centers and cryptocurrency mining.

The company's shares, which rose on the back of a slew of product announcements during the session, were trading nearly 6% higher.

Demand for Nvidia's gaming graphic chips has soared during the COVID-19 pandemic, but the bigger boost to its sales has come from an aggressive push into artificial intelligence chips, which handle tasks such as speech and image recognition in data centers

"While our fiscal 2022 first quarter is not yet complete, Q1 total revenue is tracking above the $5.30 billion outlook," Chief Financial Officer Colette Kress said in a statement.

Nvidia's unit that supports cryptocurrency mining is now expected to report sales of $150 million in the quarter, up from previous forecast of $50 million, the company said.

The company's upbeat forecast comes even as the chip industry continues to reel from a global shortage of components, disrupting wide-scale manufacturing of products including vehicles and smartphones.

"We expect demand to continue to exceed supply for much of this year," Kress said.

Earlier on Monday, Nvidia said it was planning to make a server processor chip based on technology from Arm Ltd, putting it in the most direct competition yet with rival Intel Corp.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Ramakrishnan M. and Anil D'Silva)


ę Reuters 2021
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Financials (USD)
Sales 2021 72 666 M - -
Net income 2021 16 697 M - -
Net Debt 2021 13 713 M - -
P/E ratio 2021 13,5x
Yield 2021 2,52%
Capitalization 222 B 222 B -
EV / Sales 2021 3,25x
EV / Sales 2022 3,20x
Nbr of Employees 110 600
Free-Float 99,0%
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Technical analysis trends INTEL CORPORATION
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Mean consensus HOLD
Number of Analysts 45
Average target price 66,31 $
Last Close Price 55,04 $
Spread / Highest target 63,5%
Spread / Average Target 20,5%
Spread / Lowest Target -27,3%
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Managers and Directors
NameTitle
Patrick P. Gelsinger Chief Executive Officer & Director
George S. Davis Chief Financial Officer & Executive Vice President
Omar S. Ishrak Independent Chairman
Daniel J. McKeon Vice President-Information Technology Group
Ann B. Kelleher Senior Vice President & GM-Technology Development
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