NVIDIA\’s earnings report was eye-catching, and its stock price exceeded $1,000 after the market closed.

NVIDIA on Wednesday announced first-quarter results that exceeded analysts\’ expectations, and its stock price exceeded the $1,000 mark for the first time after the market closed.

Special topic: NVIDIA\’s Q1 financial report fully exceeded expectations and officially announced its stock split plan. NVIDIA announced its first fiscal quarter results on Wednesday that exceeded analysts\’ expectations. Its stock price exceeded the $1,000 mark for the first time after the market closed.
Nvidia\’s quarterly earnings report has become a way for investors to gauge the intensity of the artificial intelligence craze that has rocked the market in recent months.
The strong results announced on Wednesday showed that demand for its AI chips remains strong.
Nvidia CEO Jensen Huang said that the company will generate revenue from its next-generation AI chip Blackwell later this year.
The company\’s stock price rose 7% after hours.
Nvidia also announced that it will conduct a 1-for-10 stock split.
Judging from the after-hours trend, the stock is expected to hit a new high on Thursday.
The company\’s financial report showed that net profit for the quarter ended April 28 reached US$14.88 billion, or US$5.98 per share. It increased more than six times from US$2.04 billion in the same period last year.
Adjusted earnings per share were $6.12, beating market expectations.
Revenue was US$26.04 billion. It was also higher than market expectations.
NVIDIA said it expects second-quarter sales of $28 billion.
That\’s higher than analysts\’ current forecast of $26.6 billion.
Nvidia said its data center business revenue increased 427% from the same period last year to $22.6 billion.
Nvidia CFO Colette Kress said in a statement that this was due to shipments of the company\’s Hopper graphics processors, which include the H100 GPU.
Kress said on a conference call with analysts: One of the highlights of the quarter was Meta\’s announcement of Lama 3. This is their latest large-scale language model. It uses 24,000 H100 GPUs.
She added that large cloud providers account for about 40% of Nvidia\’s data center revenue.
Although the company reported that its business has tripled or more, Huang said that the company\’s next-generation artificial intelligence GPU Blackwell will bring more growth.
\”We will see a lot of revenue from Blackwell this year,\” he said on the conference call, adding that new chips will enter data centers in the fourth quarter.
Nvidia also highlighted strong sales of its networking components, which are increasingly important as companies build clusters of tens of thousands of chips that need to be connected.
NVIDIA said its network business revenue was US$3.2 billion, mainly InfiniBand products, more than three times the revenue in the same period last year.
Nvidia also said it repurchased $7.7 billion worth of stock in the first fiscal quarter and paid $98 million in dividends.
The company also said it would increase its pre-spinoff quarterly cash dividend to 10 cents per share from 4 cents.
After the split, the dividend will be 1 cent per share.

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