ecord generated $26.0 billion in revenue, up 18% from the fourth quarter and 262% from last year. Record quarterly data center revenue was $22.6 billion, up 23% from Q4 and 427% from June 7, 2024, last year.
Quarterly profits rose 150% to $0.01 per share following the split of NVIDIA (NASDAQ:NVDA) today reported its first quarter ended April 28, 2024 at $26.0 billion, up 18% from the prior quarter and 262% from the prior year.
For the quarter, GAAP earnings per diluted share was $5.98, up 21% from the prior quarter and 629% from last year. Non-GAAP earnings per diluted share were $6.12, up 19% from last quarter and 461% from last year. “The next industrial revolution has begun: Companies and countries are partnering with NVIDIA to create a new type of information (AI industry) to make billion-dollar companies faster and deliver a new product: intelligence.” As announced by Jensen Huang, Founder and CEO of NVIDIA. “Artificial intelligence will bring productivity to nearly every industry and help companies become more cost-effective and efficient while increasing revenue opportunities.
He continued: “Our company's growth has been driven by the rapid pace of AI training and feedback on the Hopper platform. AI is driving widespread productivity among cloud service providers as well as consumer internet companies and enterprise, autonomous AI, automotive and healthcare customers, creating more markets for the dollar.
“We are ready to move forward. The Blackwell platform is in full swing, building a trillion-meter scale AI manufacturing platform. Spectrum-X opens a new market for us to bring massive AI exclusively to Ethernet. NVIDIA NIM is a new platform that delivers high-performance, high-performance AI running on CUDA everywhere from the cloud to original and RTX AI PCs through a broad network of ecosystem partners. ” NVIDIA also announced a ten-to-one dividend on issued NVIDIA common shares to make the stock available to employees and investors. The separation will be accomplished through an amendment to NVIDIA's revised charter, which will result in a proportionate increase in the number of authorized common shares. Each person who holds a record shares of common stock by the th market close on Thursday, June 6, 2024 will receive nine additional shares of common stock, which will be issued after the market close on Friday, June 7, 2024. . Trading is expected to begin on Monday, June 10, 2024, based on the stock split. NVIDIA increased its quarterly earnings by 150%, from $0.04 per share to $0.10 per share. Profit margin equals €0. 01.01 per share after the split and will be paid on Tuesday, June 11, 2024 to all shareholders of record on Friday, June 28, 2024. 2025 Q1 Financial Summary GAAP (dollars in millions, excluding earnings per share) Q1 Q1 FY25 Q24 Q1 FY24 Q/Q Y/Y Sales $26,044 $22,103 $7,192 18% increase 262% increase Gross margin % 78.4% 76.0% 64.6% Increase 2. Increase 4 points 13. 8 points Expenses $3,497 $3,176 $2,508 Increase 10% Increase 39% Operating