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<Results>Nvidia (NVDA.US) Swells ~6% in After-hr Trading as 1FQ Rev. Beats, Data Center Rev. Surges 73%
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Leading AI chip stock Nvidia (NVDA.US) announced on Wednesday after market closed that its revenue for the first fiscal quarter ended 27 April was US$44.06 billion, up 69% YoY and 12% QoQ, beating market consensus of US$43.31 billion. Of which, sales in the data center segment increased 73% YoY to US$39.1 billion, up 10% QoQ. Driven by the quarterly results, Nvidia's stock price swelled nearly 6% in after-hours trading. Net profit for the quarter hiked by 26% YoY to US$18.8 billion, with an adjusted EPS of US$96 cents, slightly ahead of the expected US$93 cents. Non-GAAP overall gross profit margin was 61%, while gross profit margin would reach 71.3% excluding costs related to excess H20 inventory in the Chinese market. Global demand for Nvidia's AI infrastructure remains very strong, CEO Jensen Huang said. Nvidia expects sales for the current fiscal quarter to be US$45 billion, below market consensus of US$45.9 billion. Expected sales would have been approx. US$8 billion higher except for lost sales due to recent export restrictions on H20 chips to China, the Company added. AASTOCKS Financial News Website: www.aastocks.com |
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