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5/25, 10:24 PM (Source: TeleTrader)
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Nvidia Q1 revenue beats estimates at $8.3 billion

Nvidia Corporation reported on Wednesday that its revenue for the first quarter of the fiscal year 2023 stood at $8.29 billion, beating estimates and marking an annual rise of 46%.

Meanwhile, GAAP earnings per diluted share decreased 16% year on year in the first trimester of fiscal 2023 to stand at $0.64. Furthermore, the company's net income amounted to $1.6 billion, declining 15% on a yearly basis.

"We delivered record results in Data Center and Gaming against the backdrop of a challenging macro environment," NVIDIA CEO Jensen Huang noted adding that the company is "gearing up for the largest wave of new products in our history with new GPU, CPU, DPU and robotics processors ramping in the second half."

Nevertheless, the figures for the second-quarter revenue are expected to be at $8.10 billion, slightly below the ones in the first quarter, the company shared. Nvidia's shares plunged 8.24% in after-hours trading following the release of the report.

Baha Breaking News (BBN) / AY