The computer hardware maker NVIDIA (NASDAQ: NVDA) announced its first-quarter earnings results on Thursday. The company revenue from gaming products grew 27 per cent in its last quarter while revenues from the Datacenter division grew 80 per cent to $ 1.14 billion. During the quarter, Nvidia completed its $7 billion acquisition of Mellanox Technologies, a maker of key technologies for connecting its chips in data centres.
- Earnings per share (EPS) $1.80 vs. $1.69 expected
- Revenue $3.08 billion vs. $3 billion expected
Nvidia expects to report about $3.65 billion in revenue in its second fiscal quarter with gross margins around 58.6%. The company said GeForce now has two million users, up from over one million back in mid-February, when the cloud gaming service moved out of a public beta to become available to all.
“NVIDIA had a wonderful quarter. The acquisition of Mellanox expands our cloud and information heart alternative. We raised the bar for AI computing with the launch and cargo of our Ampere GPU. And our digital GTC convention attracted a report variety of builders” commented NVIDIA founder and CEO Jensen Huang.
Stock Surges to All-Time High ahead of Earnings and the stock closed slightly down in after-hours trading. NVIDIA has a 52 week low of $132.60 and a 52 week high of $363.50.