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NVIDIA Reports Strong First Quarter, Driven by Demand for Data Center and Gaming
First Quarter Revenue Increases 18% Year-over-Year
Quarterly Revenue Reaches $26.0 Billion
SANTA CLARA, Calif. — NVIDIA (NASDAQ: NVDA) today announced financial results for the first quarter ended April 28, 2024. Revenue for the quarter was $26.0 billion, up 18% from a year earlier. Net income was $8.0 billion, or $2.50 per diluted share, compared with net income of $6.3 billion, or $1.91 per diluted share, in the first quarter of fiscal 2024.
"Our first-quarter performance was driven by strong demand for our data center and gaming platforms," said Jensen Huang, founder and CEO of NVIDIA. "NVIDIA AI is the most powerful technology platform for companies to build and deploy AI applications that drive business value and improve lives. We are seeing accelerated adoption of NVIDIA AI across all sectors of the economy."
Data center revenue was $18.3 billion, up 19% from a year earlier. Gaming revenue was $6.7 billion, up 15% from a year ago. Automotive revenue was $293 million, up 10% from a year earlier. Professional visualization revenue was $704 million, down 1% from a year earlier. OEM and other revenue was $1.0 billion, up 4% from a year ago.
During the first quarter, NVIDIA generated $14.2 billion in cash from operations and paid $1.0 billion in dividends. The company invested $1.3 billion in capital expenditures.
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