This morning, NVIDIA reported its latest fiscal first-quarter earnings, revealing that the company's revenue for the quarter was $7.192 billion. This represents a 13% decline compared to the same period a year earlier, but a notable 19% increase compared to the previous fiscal quarter. Net profit for the first quarter reached $2.043 billion, showing a significant 26% growth from the same period last year, and a substantial 44% increase compared to the previous fiscal quarter.
When examining NVIDIA's revenue breakdown by business sector, the gaming business revenue for the first fiscal quarter amounted to $2.24 billion. Although this represents a significant 38% decrease compared to the same period last year, it still marks a commendable 22% increase compared to the previous fiscal quarter. The data center business segment achieved impressive results, generating $4.28 billion in revenue, setting a new record for the company's history. This demonstrates a noteworthy 14% increase compared to the same period a year ago, and an 18% increase compared to the previous fiscal quarter. The professional visualization business revenue was $295 million, showing a remarkable 53% increase compared to the same period last year, but declining by 53% when compared to the previous fiscal quarter. Lastly, the automotive revenue reached $296 million, displaying a remarkable 114% increase compared to the same period a year ago, and a 1% increase compared to the previous fiscal quarter.
NVIDIA's first-quarter adjusted earnings per share and revenue surpassed the expectations of Wall Street analysts. Additionally, the company's outlook for fiscal 2024 second-quarter revenue far exceeded expectations, leading to a significant surge in its after-hours stock price, rising by more than 28% and breaking through the 52-week high.
It has been reported that NVIDIA's shares experienced a remarkable 30% surge in the hour following the release of the earnings report, contributing to an astonishing increase in the company's market value by $220 billion. For context, this market capitalization surpasses that of NVIDIA's key competitors, such as AMD with $175 billion, Intel with $120 billion, and Micron with $73 billion. In summary, NVIDIA's remarkable performance after earnings surpassed its competitors, demonstrating a notable rise equivalent to one AMD, almost two Intel, and three Micron in terms of market value.
*Disclaimer: The news in this article originated from Jiewei.com, organized by Yuanxin Ai electronic, for learning and reference only.
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