NVIDIA today announced sales of $3.08 billion for the first quarter ended April 26, 2020. This represents a 39 percent increase from $2.22 billion last year and a 1 percent decrease from $3.11 billion in the previous quarter.
NVIDIA reports financial results for the first quarter of fiscal 2021
GAAP diluted earnings per share for the quarter were $1.47, up 130% from $0.64 a year ago and down 4% from $1.53 in the previous quarter.
Non-GAAP diluted earnings per share were $1.80, up 105% from $0.88 last year and down 5% from $1.89 last quarter.
NVIDIA completed the acquisition of Mellanox on April 27, 2020 for a transaction value of $7 billion, which also impacted these financial results.
“NVIDIA had an excellent quarter. The Mellanox acquisition expands our capabilities in the cloud and in the data center. With the introduction and delivery of our Ampere GPU, we have pushed the bar higher for AI computing. And our digital GTC conference attracted a record number of developers, underscoring the accelerated adoption of NVIDIA GPU computing.
In the first quarter of the fiscal year 2021, NVIDIA paid a dividend of $98 million. Due to current market uncertainties, NVIDIA is considering when to resume the share buyback and will continue to respond flexibly to market conditions. The green company is currently authorized to repurchase up to $7.24 billion worth of shares through December 2022 and remains committed to paying quarterly dividends.
One of the most informative data relates to the “gaming sector”. Revenues for the first quarter were $1.34 billion, down 10% from the previous quarter and up 27% from the previous year.