The first line item is called storage and computing, which primarily refers to total storage and cloud computing revenue. A table has been included in this webinar showing the company's quarterly revenue on this basis since 2017. In order to provide increased visibility on data center and cloud computing revenue, we broke reporting for computer and storage into two separate markets. Before looking at our revenue by market, I would like to call to your attention a change in our reporting. The year-over-year revenue increase represented strength in the overall market and, more importantly, broad-based market share gains resulting from customer acceptance of our new product introductions. MPS posted record first-quarter revenue of $377.7 million, 48.4% higher than the first quarter of 2021. Now I'd like to turn the call over to Bernie.īernie Blegen - Vice President and Chief Financial Officer
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MPS assumes no obligation to update the information provided on today's call. Risks, uncertainties and other factors that could cause actual results to differ are identified in the Safe Harbor statements contained in the Q1 earnings release and in our SEC filings, including our Form 10-K filed on February 25, 2022, which is accessible through our website. Please refer to the Safe Harbor statement contained in the earnings release published today.
In the course of today's conference call, we will make forward-looking statements and projections that involve risks and uncertainty, which could cause results to differ materially from management's current views and expectations. Joining me today are Michael Hsing, CEO and founder of MPS and Bernie Blegen, VP and CFO. Please note that this webinar is being recorded and will be archived for one year on our Investor Relations page at My name is Genevieve Cunningham, and I will be the moderator for this webinar. Welcome, everyone, to the MPS first-quarter 2022 earnings webinar.
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