Samuel Boivin / NurPhoto via Getty Images
Nvidia $NVDA reported record revenue of $81.6 billion for the first quarter of fiscal 2027, up 85% from a year ago, as demand for its artificial intelligence chips continued to grow. The company also raised its quarterly dividend 25-fold and announced a new share repurchase authorization on Wednesday.
First-quarter revenue beat the average analyst estimate of $79.2 billion, according to Bloomberg. Non-GAAP earnings per diluted share came in at $1.87, above analyst estimates of $1.77.
Data center revenue, Nvidia's largest business segment, reached $75.2 billion in the quarter, up 92% from a year ago and up 21% from the prior quarter, the company said. That beat an analyst estimate of $73.5 billion, according to Bloomberg. Data center networking revenue reached $14.8 billion, up 199% from a year ago.
On the capital return front, Nvidia authorized $80 billion in additional stock buybacks and bumped its quarterly cash dividend to $0.25 per share — up from just $0.01 — with the payment scheduled for June 26 to shareholders on record as of June 4. The company returned approximately $20 billion to shareholders in the first quarter through buybacks and dividends.
