The Mellanox acquisition, made in the second quarter, contributed to revenue during that period and also in future quarters of FY 2021. Growth accelerated to 80.0% in Q1 FY 2021 and then to 167.5% in Q2 FY 2021.
Nvidia's data center revenue grew just 1.7% for all of FY 2020, declining in each of the first three quarters of the year before rising 42.6% in Q4 FY 2020. Efforts to drive further gains in the post-Covid era, such as boosting enterprise sales and new offerings like Phone and WhiteBoard, may not be enough to sustain growth due to rising competition from Microsoft Teams and slowing IT budgets at smaller business clients, according to Citi analysts who downgraded its shares to sell this week.While both sources of revenue have received a lift during the pandemic after weak performance in FY 2020, data center revenue continues to rise at a faster pace. The video conferencing provider is likely to see y/y revenue growth drop into the single digits for the first time since it went public, based on the company’s own forecast and consensus estimates, as a weakening economy and broader return-to-office trends cut into sales. Monday: Zoom Video ( ZM US) will report after-market. Reports next week will give investors further insight into the second-half for retailers, chipmakers and software providers as the peak earnings period draws to a close. Yet evolving shopping behaviors across the income spectrum, along with price markdowns from excess inventory, are contributing to the highest proportion of earnings misses for the consumer discretionary sector than elsewhere in the S&P 500 this season. Better-than-expected US retail sales data and upbeat outlooks from Walmart and Target this week demonstrated the resilience of the American consumer amid hyperinflation and rising rates.
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