PC hardware developer Nvidia is at the top of its game.
The company reported $5.3 billion in Q4 revenue, a 61% increase year-over-year. Revenue for its fiscal year hit $16.7 billion, a 53% uptick.
The successful quarter was fueled by Nvidia’s gaming business, which saw a record-breaking $2.5 billion in revenue, up 67% increase from a year earlier. Full-year gaming revenue reached $7.8 billion, up 41%.
This comes as PC gaming has grown into a $29 billion industry powered by hardware, Nvidia’s bread and butter.
PC gaming shows no signs of slowing down. PC game distribution service Steam saw 62.6 million daily active users and 2.6 million first-time purchasers per month in 2020.
Nvidia’s main obstacle is supply chain issues for its high-performance graphic cards. Shipping restrictions on the company’s new GeForce RTX Series products have kept sales from reaching their potential.
“Demand for GeForce RTX 30 Series GPUs is incredible,” CEO Jensen Huang said in a statement. “Nvidia RTX has started a major upgrade cycle as gamers jump to ray tracing, DLSS and AI.”