Nvidia Q1 results surpass Wall Street expectations thanks to massive AI chip demand
Nvidia reported Q1 earnings of $58.32 billion, or $2.39 per share, and revenue of $81.62 billion, both surpassing Wall Street forecasts due to surging demand for its AI chips. The company forecasted $91 billion in revenue for the current quarter, with CEO Jensen Huang citing an accelerating global AI infrastructure expansion.
Nvidia’s Q1 financial results for the February-April period exceeded Wall Street expectations, driven by strong demand for its AI chips. The company reported earnings of $58.32 billion, or $2.39 per share, up from $18.78 billion, or 76 cents per share, in the same period last year. Revenue grew 85% to $81.62 billion, compared to $44.01 billion a year earlier. Analysts had projected earnings of $1.75 per share and revenue of $78.91 billion, but Nvidia surpassed both figures. CEO Jensen Huang attributed the growth to the rapid expansion of AI infrastructure, calling it the largest in human history. For the current quarter, Nvidia forecasted revenue of about $91 billion, slightly above analyst estimates of $87.29 billion. The company’s stock dipped slightly after-hours to $222.12, following a regular trading session close of $223.47. Despite the minor decline, Nvidia’s market valuation remained at $5.4 trillion, reflecting its dominant position in the AI chip market. Nvidia’s performance underscores the growing reliance on AI technology across industries, with its high-end chips serving as a critical component for AI development. The company’s continued outperformance highlights its leadership in a rapidly evolving sector.
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