Nvidia Reports Record Q1 Earnings Amid Surging AI Demand
Nvidia's first-quarter revenue soared to $81.6 billion, an 85% increase from the previous year, driven by strong AI chip demand.
Nvidia has announced record-breaking financial results for the first quarter of fiscal year 2027, with revenue reaching $81.6 billion, marking an 85% increase from the same period last year. The company's data center segment led this growth, generating $75.2 billion, up 92% year-over-year.
Net income for the quarter was $58.32 billion, or $2.39 per share, a significant rise from $18.78 billion, or 76 cents per share, a year ago. Excluding one-time items, earnings per share stood at $1.76, surpassing analyst expectations of $1.75.
CEO Jensen Huang attributed this performance to the rapid global expansion of AI infrastructure, describing it as the "largest infrastructure expansion in human history."
Looking ahead, Nvidia projects second-quarter revenue between $89.18 billion and $92.8 billion, exceeding analyst estimates. The company also announced an $80 billion share repurchase authorization and increased its quarterly cash dividend from $0.01 to $0.25 per share.
Despite these strong results, Nvidia's stock experienced a slight dip in after-hours trading, reflecting investor concerns about a potential slowdown following a three-year boom.