NVIDIA Q1 2023 financial results revealed

NVIDIA has reported their revenue for the first quarter of 2023. Sales came in at $7.19 billion, up 19% from the previous quarter but down 13% from the year before.

NVIDIA has revealed their financial results for this quarter of 2023. The quarterly GAAP earnings per diluted share were $0.82, up 44% from the prior quarter and 28% from a year ago. Non-GAAP earnings per diluted share came in at $1.09, up 24% from the prior quarter but down 20% from the prior year.

“The computer industry is going through two simultaneous transitions — accelerated computing and generative AI,” said Jensen Huang, founder and CEO of NVIDIA.

“A trillion dollars of installed global data center infrastructure will transition from general purpose to accelerated computing as companies race to apply generative AI into every product, service and business process.

“Our entire data center family of products — H100, Grace CPU, Grace Hopper Superchip, NVLink, Quantum 400 InfiniBand and BlueField-3 DPU — is in production. We are significantly increasing our supply to meet surging demand for them,” he said.

The following quarterly cash dividend from NVIDIA will be paid out on June 30, 2023, at a rate of $0.04 per share, to all shareholders having records as at June 8, 2023.

In the most recent quarter, Nvidia’s earnings and sales both climbed by 19% and 26%, respectively, far above Wall Street analysts’ expectations. Analysts’ projections for Nvidia’s outlook for the upcoming quarter were also substantially surpassed, by over 50%.

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