The quarterly cash dividend has been raised by 150%, resulting in $0.01 per share on a post-split basis.
NVIDIA reported first-quarter revenue for the period ending April 28, 2024, totaling $26.0 billion, marking an 18% increase from the previous quarter and a 262% rise from the same period last year. GAAP earnings per diluted share were $5.98, a 21% increase from the previous quarter and up 629% from a year ago. Non-GAAP earnings per diluted share were $6.12, reflecting a 19% increase from the previous quarter and a 461% increase from the same period last year.
It announced a ten-for-one forward stock split to make ownership more accessible, effective June 10, 2024. The company also increased its quarterly cash dividend by 150% to $0.10 per share, payable on June 28, 2024. For the second quarter of fiscal 2025, NVIDIA expects revenue of $28.0 billion, with GAAP and non-GAAP gross margins of approximately 74.8% and 75.5%, respectively. Operating expenses are projected to be $4.0 billion for GAAP and $2.8 billion for non-GAAP. Key achievements in the data center segment include first-quarter revenue of $22.6 billion, the launch of the company’s Blackwell platform, and new AI infrastructure products like Quantum and Spectrum X800 series switches. The gaming segment reported revenue of $2.6 billion, with new AI gaming technologies and integrations introduced. The professional visualization segment saw revenue of $427 million, with new RTX professional GPUs and Omniverse Cloud APIs launched. The automotive segment reported revenue of $329 million, with several partnerships announced for next-generation electric vehicles and robotics advancements.
The company uses non-GAAP financial measures to supplement its GAAP results, providing a clearer comparison of current and past performance. These measures exclude certain expenses and are presented alongside GAAP measures to enhance understanding of the company’s financial performance.
CEO Jensen Huang highlighted the company’s role in the transition of traditional data centers to AI-focused facilities, emphasizing the impact on productivity and revenue across various industries. The data center segment saw significant growth driven by demand for generative AI on the Hopper platform. The Blackwell platform, now in full production, is expected to support large-scale generative AI applications. NVIDIA also introduced Spectrum-X for Ethernet-only data centers and NVIDIA NIM software for optimized generative AI across various computing environments.
