On the ride of the persistently resilient demand for AI, NVIDIA (NVDA.US) announced net profit of US$14.88 billion for the fiscal quarter ended 28 April 2024, up 6.3 times year-on-year and 21% quarter-on-quarter. The adjusted EPS was US$6.12, higher than the market's estimate of US$5.59. NVIDIA soared more than 3% after the trading session.
Revenue for the quarter was US$26 billion, up 2.6 times year-over-year and 18% quarter-over-quarter. Revenue from its data center business set a record high of US$22.6 billion, up 4.3 times year-over-year and 23% quarter-over-quarter.
NVIDIA raised its quarterly dividend by 150%, from US$4 cents per share to US$10 cents per share, equivalent to US$1 cent per share after the completion of the stock split.
As for the outlook for the second fiscal quarter, the company expected sales of US$28 billion, compared to the market's estimate of US$26.61 billion.
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