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Nvidia report: Revenue up 46%

26 May 2022
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1 min.
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Nvidia report: Revenue up 46%

Nvidia shares and report

Nvidia (NASDAQ: NVDA)'s financial report showed that the chipmaker's revenue and profit growth remain strong and exceed analyst estimates.

Nvidia (NASDAQ: NVDA) shares reacted with a 6% decline on the release of its Q1 fiscal 2023 report (ended April 30) after the close of trading.

Nvidia shares have lost 42.3% since the beginning of the year but were up 5% in the run-up to the report at the close of trading as Wall Street analysts were convinced of the strength of Nvidia's data centre segment.

Nvidia's report showed strong earnings and revenue growth, but the chipmaker provided a softer-than-expected outlook for the current quarter. Moreover, Nvidia's lower earnings forecast led to a decline in shares of AMD, Marvell Technology, Micron, Western Digital and other chip makers.

Report from Nvidia

The company said in its report that Earnings per share rose 48 percent from a year ago to $1.36, beating analysts' forecasts of $1.29.

Also, revenue rose 46% to $8.29 billion, well ahead of the company's forecast and Wall Street estimate of $8.1 billion.

Nvidia also said that its board of directors approved the expansion of the company's share buyback program to $15 billion. The company bought back $2 billion worth of shares during the quarter, bringing total shareholder return, including dividends, to $2.1 billion.

You can read Nvidia's detailed report here.

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