Graphics hardware specialist Nvidia brought in record revenue for the three months ending July 26th, 2020.
In its release for the quarter, the company boasted of $3.87bn in revenue, a 50 per cent increase year-on-year. Of that figure, $1.65bn came from Nvidia's games business, an increase of 26 per cent on the previous year.
This was driven by – what else? – the COVID-19 coronavirus.
"With all that has been happening around the world – and it’s really unfortunate – but it’s made gaming the largest entertainment medium in the world," CEO Jensen Huang (pictured) told investors, as reported by SeekingAlpha.
"More than ever, people are spending time digitally, spending on-time – spending their time in video games. The thing that people haven’t realised about video games is that it’s not just the game itself anymore. The variety of different ways that you can play, whether you can hang out with your friends in Fortnite, go to a concert in Fortnite, building virtual worlds in Minecraft, you are spending time with your friends, you are using it to create to realise your imaginations. People are using it for broadcast, for sharing ideas and techniques with other people. And so – and then of course, it’s just an incredibly fun way to spend time even by consumption of the video – of a video game. And so there is just so much that you could do with video games now. And I think that this way of enjoying entertainment digitally has been accelerated as a result of the pandemic, but I don’t think it’s going to return. Video game adoption has been going up over time and pretty steadily."
