Categories AlphaGraphs, Earnings, Technology
Earnings: Nvidia (NVDA) Q1 adj. profit declines; revenue down 13%
Nvidia Corporation (NASDAQ: NVDA) announced financial results for the first quarter of 2024, reporting a decline in adjusted earnings and revenues.
The Santa Clara-headquartered tech firm reported adjusted earnings of $1.09 per share for the April quarter, compared to $1.36 per share in the same period of last year. The bottom line was negatively impacted by a 13% decline in revenues to $7.19 billion.
Net income, including special items, was $2.04 billion or $0.82 per share in the three-month period, compared to $1.62 billion or $0.64 per share in the first quarter of 2023.
“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,” said Nvidia’s CEO Jensen Huang.
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