Nvidia’s Record Revenue and Stock Reaction
Nvidia (NASDAQ: NVDA) reported fiscal first-quarter revenue of $81.6 billion on Wednesday, marking an 85% year-over-year increase. This exceeded consensus estimates on both revenue and earnings, leading management to raise the quarterly dividend 25-fold to $0.25 per share and authorize an $80 billion share repurchase program. Despite these impressive numbers, Nvidia’s shares fell nearly 2% the following day.
The company’s data center revenue surged to $75.2 billion, a 92% increase year-over-year, significantly driven by a 199% jump in data center networking revenue to $14.8 billion. Nvidia also projected fiscal second-quarter revenue to reach approximately $91 billion, indicating a roughly 95% year-over-year growth rate.
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