Nvidia's data center business hit a new record in the first quarter, the company reported Thursday, achieving more than $1 billion in quarterly sales for the first time. The GPU maker saw data center sales driven by higher vertical industries and hyperscale demand. First quarter non-GAAP earnings per share came to $1.80 on revenue of $3.08 billion, up 39 percent from a year earlier. Analysts were expecting earnings of $1.68 per share on revenue of $2.98 billion. "NVIDIA had an excellent quarter," CEO Jensen Huang said in a statement.
Nvidia posted revenues of $3.87 billion for the second fiscal quarter ended July 26, up 50% from a year earlier. The revenues beat expectations, and non-GAAP earnings per share of $2.18 also trounced expectations as gaming hardware and AI remained in high demand during the pandemic. Santa Clara, California-based Nvidia makes graphics processing units (GPUs) that can be used for games, AI, and datacenter computing. While many businesses have been hit hard by the pandemic, Nvidia has seen a boost in those areas. For the second fiscal quarter, analysts expected revenue of $3.65 billion and non-GAAP earnings per share of $1.97.
Shares of Nvidia (NVDA) - Get Report were falling after hours Thursday as the company's strong run this year may be outweighing its healthy July quarter earnings results. TheStreet is live blogging Nvidia's earnings report and call with analysts. The semiconductor maker reported second quarter revenue of $3.87 billion on earnings of $2.18 per share. Analysts polled by FactSet were expecting the company to report revenue of $3.65 billion on earnings of $1.98 per share. Despite the strong quarter, Nvidia shares were down 0.9% after hours on Wednesday to $481.26.
Nvidia reported revenues of $5.0 billion for its fourth fiscal quarter ended January 31, up 61% from a year earlier. The revenues and non-GAAP earnings per share of $3.10 beat expectations as new gaming hardware and AI products generated strong demand. A year ago, Nvidia reported non-GAAP earnings per share of $1.89 on revenues of $3.1 billion. The Santa Clara, California-based company makes graphics processing units (GPUs) that can be used for games, AI, and datacenter computing. While many businesses have been hit hard by the pandemic, Nvidia has seen a boost in those areas.
Semiconductor maker Nvidia (NASDAQ: NVDA) slipped in pre-market trade Thursday, following a better-than-expected earnings report for fiscal 2022's first quarter. Shares fell $2.70, or 0.43%, to $625.30 The company, which specializes in graphics chips, earned $3.66 per share on revenue of $5.66 billion. Wall Street had pegged net income at $3.28 a share on revenue of $5.41 billion. Those results marked year-over-year gains of 103% and 84%, respectively.