Nvidia Reports Record Fiscal First-Quarter Revenue

(MENAFN) Chipmaker Nvidia shattered its own earnings records on Wednesday, posting fiscal first-quarter revenue of $81.6 billion — an 85% surge year-on-year and a 20% sequential jump — as relentless global appetite for artificial intelligence infrastructure turbocharged growth across its core business lines.

The quarter ended April 26 marked yet another milestone for the Santa Clara-based company, with Data Center revenue climbing to a record $75.2 billion, a 92% year-on-year leap and 21% above the prior quarter. Breaking that figure down further, Data Center compute revenue reached $60.4 billion, with networking revenue contributing an additional $14.8 billion.

"The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed," said Jensen Huang, Nvidia's founder and Chief Executive, in the company's official earnings statement.

Huang went further, declaring that "Agentic AI has arrived," and asserting that Nvidia's platform — running "in every cloud" and scaling from hyperscale data centers to the edge — places the company at the nucleus of a sweeping technological transformation.

Profitability metrics reinforced the scale of Nvidia's dominance. GAAP net income skyrocketed 211% year-on-year to $58.3 billion, while non-GAAP net income climbed 139% to $45.5 billion. GAAP diluted earnings per share reached $2.39, against a non-GAAP figure of $1.87. Gross margins held firm, with GAAP gross margin at 74.9% and non-GAAP gross margin at 75%.

Free cash flow hit $48.6 billion for the quarter — up sharply from $34.9 billion the previous quarter and nearly double the $26.1 billion recorded a year ago.

Nvidia's board authorised an additional $80 billion in share repurchases on May 18 with no expiration date. During the quarter, the company returned approximately $20 billion to shareholders via buybacks and dividends, leaving $38.5 billion remaining under its repurchase programme at quarter-end. The company also dramatically raised its quarterly cash dividend — from $0.01 to $0.25 per share — payable June 26 to shareholders on record as of June 4.

Looking ahead, Nvidia guided for second fiscal quarter revenue of $91 billion, plus or minus 2%, notably excluding any Data Center compute revenue from China from that projection.

The company also unveiled a restructured reporting framework centred on two market platforms: Data Center and Edge Computing. Within Data Center, Nvidia will separately track hyperscale and ACIE — covering AI clouds, industrial, and enterprise segments. Edge Computing, which encompasses agentic and physical AI devices including PCs, game consoles, robotics, automotive systems, and AI-RAN base stations, generated $6.4 billion in the first quarter, up 29% year-on-year and 10% sequentially.

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