- Nvidia (NASDAQ:NVDA) shares financial results for the first quarter of fiscal 2023.
- There is a decrease in revenue prediction tied to inflation, COVID-19, and the Russo-Ukraine crisis.
- Revenue increased by 46% to a new high of $8.29 billion in the first quarter ending May 1.
Nvidia today announced record sales of $8.29 billion for the first quarter ending May 1, 2022, up by 46% year over year and 8% year over quarter, with high revenue in data center and gaming.
The quarter’s GAAP profits per diluted share were $0.64, down 16% year over year and 46% from the prior quarter, with an after-tax effect of $0.52 attributable to the $1.35 billion Arm purchase cancellation fee. Non-GAAP diluted profit per share was $1.36, up by 49% year over year and 3% from the past quarter.
The adjusted profits per share of $1.36 outperformed the $1.30 consensus forecast. Nvidia, on the other hand, forecasted revenues of $8.10 billion for the fiscal second quarter, which fell short of the $8.399 billion average expectation.