- Quarterly revenue of $7.19 billion, up 19% from previous quarter
- Record Data Center revenue of $4.28 billion
- Second quarter fiscal 2024 revenue outlook of $11.00 billion
SANTA CLARA, Calif., May 24, 2023 (GLOBE NEWSWIRE) -- NVIDIA (NASDAQ: NVDA) today reported revenue for the first quarter ended April 30, 2023, of $7.19 billion, down 13% from a year ago and up 19% from the previous quarter.
GAAP earnings per diluted share for the quarter were $0.82, up 28% from a year ago and up 44% from the previous quarter. Non-GAAP earnings per diluted share were $1.09, down 20% from a year ago and up 24% from the previous quarter.
“The computer industry is going through two simultaneous transitions — accelerated computing and generative AI,” said Jensen Huang, founder and CEO of NVIDIA.
“A trillion dollars of installed global data center infrastructure will transition from general purpose to accelerated computing as companies race to apply generative AI into every product, service and business process.
“Our entire data center family of products — H100, Grace CPU, Grace Hopper Superchip, NVLink, Quantum 400 InfiniBand and BlueField-3 DPU — is in production. We are significantly increasing our supply to meet surging demand for them,” he said.
During the first quarter of fiscal 2024, NVIDIA returned to shareholders $99 million in cash dividends.
NVIDIA will pay its next quarterly cash dividend of $0.04 per share on June 30, 2023, to all shareholders of record on June 8, 2023.
Q1 Fiscal 2024 Summary
| GAAP | |||||||||||
| ($ in millions, except earnings per share) | Q1 FY24 | Q4 FY23 | Q1 FY23 | Q/Q | Y/Y | ||||||
| Revenue | $ | 7,192 | $ | 6,051 | $ | 8,288 | Up 19% | Down 13% | |||
| Gross margin | 64.6 | % | 63.3 | % | 65.5 | % | Up 1.3 pts | Down 0.9 pts | |||
| Operating expenses | $ | 2,508 | $ | 2,576 | $ | 3,563 | Down 3% | Down 30% | |||
| Operating income | $ | 2,140 | $ | 1,257 | $ | 1,868 | Up 70% | Up 15% | |||
| Net income | $ | 2,043 | $ | 1,414 | $ | 1,618 | Up 44% | Up 26% | |||
| Diluted earnings per share | $ | 0.82 | $ | 0.57 | $ | 0.64 | Up 44% | Up 28% | |||
