GPU behemoth NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a multi-fold increase in first-quarter earnings, reflecting continued strong revenue growth. The results also topped expectations.
The tech firm’s revenues climbed to $26.04 billion in the April quarter from $7.19 billion a year earlier, aided by blockbuster performance by the Data Center and Gaming segments, which together account for about 96% of the top line. The management expects second-quarter revenue to be approximately $28 billion.
The solid revenue growth translated into a surge in adjusted profit to $6.12 per share in the first quarter from $1.09 per share a year earlier. Unadjusted net income was $14.88 billion or $5.98 per share in Q1, compared to $2.04 billion or $0.82 per share a year earlier.