PANews, May 21st - According to a report by Cailian Press, Nvidia released its first fiscal quarter results after the market closed on Wednesday (Eastern Time). Both revenue and profit exceeded analysts' expectations, and the outlook for the second fiscal quarter also surpassed expectations. The report showed that in the first fiscal quarter of this year, Nvidia reported earnings per share (EPS) of $1.87, exceeding analysts' expectations of $1.77; revenue was $81.62 billion, exceeding analysts' expectations of $79.18 billion, representing a year-on-year increase of 85%. For the second fiscal quarter, Nvidia expects revenue to be between $89.1 billion and $92.8 billion. Wall Street's previous expectation was $87.3 billion. The company returned $20 billion to shareholders in the first quarter through stock buybacks and dividends. Nvidia also announced an additional $80 billion in stock buyback authorization and increased the quarterly dividend to $0.25 per share. Nvidia’s data center business generates the vast majority of its revenue, with the segment’s quarterly revenue reaching $75.2 billion, exceeding Wall Street analysts’ previous estimate of $73.47 billion and nearly doubling from $39.11 billion in the same period last year.

In addition, Jensen Huang stated in the earnings call that the company expects to begin production and shipping its next-generation rack-mount AI system, Vera Rubin, in the second half of this year. Nvidia also announced a change in its quarterly earnings reporting method. The company will now separate its revenue into two segments: data center and edge computing.