NVIDIA released its financial report for the first quarter of the fiscal year 2024, ending on April 30, 2023. The company's first-quarter revenue was $7.192 billion, a 13% decrease compared to the same quarter last year but higher than the market's expected $6.52 billion. The net profit for the quarter was $2.713 billion.
NVIDIA CEO Jensen Huang stated that he observed a significant increase in demand for their data center products in the market. Despite market expectations of $7.18 billion in revenue for the next quarter, NVIDIA confidently provided a guidance of over $11 billion, surpassing expectations by more than 50%.
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