Categories AlphaGraphs, Earnings, Technology
NVDA Earnings: Nvidia Q1 profit beats estimates, revenues rise 46%
Nvidia Corporation (NASDAQ: NVDA) Wednesday said its first-quarter 2023 revenues and earnings increased, reflecting the strong demand for chips. The results also exceeded Wall Street’s prediction.
The graphics chipmaker reported adjusted earnings of $1.36 per share for the April quarter, up from $0.91 per recorded a year earlier. Net income, including one-off items, dropped to $1.62 billion or $0.64 per share in the latest quarter from $1.91 billion or $0.76 per share in the first quarter of 2022.
Revenues grew 46% annually to $8.29 billion during the three-month period and came in above the estimates, reflecting strong performance by the gaming, data center, and professional visualization segments.
Check this space to read management/analysts’ comments on Nvidia’s Q1 earnings
The company’s stock closed Wednesday’s regular trading higher but declined during the extended session, following the announcement.
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