IT House May 26 news, Nvidia today announced its financial results for the first quarter of fiscal 2023, which ended on May 1, 2022, and gave a record revenue of $8.29 billion, an increase of 46% year-on-year, and the previous quarter. By contrast, both data center and gaming revenue were record numbers.
IT House learned that Nvidia’s revenue in the first quarter was $8.288 billion, an increase of 46% compared with $5.661 billion in the same period last year, and an increase of 8% compared with $7.643 billion in the previous quarter.
Nvidia’s net profit for the quarter was $1.618 billion, down 15% from $1.912 billion in the same period last year and 46% from $3.003 billion in the previous quarter; non-GAAP adjusted net profit was $3.443 billion, an increase of 49% compared to $2.313 billion in the same period last year, and an increase of 3% compared to $3.350 billion in the previous quarter.
GAAP diluted earnings per share for the quarter was $0.64, down 16% from the year-ago quarter and down 46% from the prior quarter, including a $0.52 after-tax impact related to the $1.35 billion Arm acquisition termination charge. Non-GAAP earnings per diluted share were $1.36, an increase of 49% from a year earlier and a 3% increase from the prior quarter.
“We have achieved record results in data centers and gaming against the backdrop of a challenging macro environment,” said Jen-Hsun Huang, founder and CEO of NVIDIA. “The effectiveness of deep learning in enabling intelligent automation is driving the Companies in the industry are using NVIDIA for AI computing. The data center has become our largest platform, even as gaming has a record quarter.
“We are gearing up for the largest wave of new products in our history, with new GPUs, CPUs, DPUs and robotics processors coming in the second half of the year. Our new chips and systems will be a huge boost to artificial intelligence, graphics, Omniverse, automation Driving cars and robotics, and the many industries these technologies impact,” he said.
In the first quarter of fiscal 2023, NVIDIA returned $2.1 billion in stock repurchases and cash dividends to shareholders.
On May 23, 2022, the Board of Directors increased and extended the company’s stock repurchase program to repurchase a total of $15 billion of additional common stock through December 2023.
NVIDIA will pay a cash dividend of $0.04 per share for the next quarter on July 1, 2022 to all shareholders of record on June 9, 2022.
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