Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) reported record fiscal first quarter results that beat Wall Street expectations for both revenue and earnings, driven by continued strength in its data center business and sustained demand for artificial intelligence infrastructure.
For the quarter ended April 26, 2026, the company posted revenue of $81.6 billion, compared with Wall Street estimates of about $78.91 billion. Revenue increased 20% from the previous quarter and rose 85% from a year earlier, marking a new record for the company.
Adjusted earnings per share came in at $1.87, versus consensus expectations of about $1.77.
Gross margins remained elevated at 74.9% on a GAAP basis and 75% on a non-GAAP basis, reflecting continued profitability in its core accelerated computing and AI systems businesses.
Data center revenue was the primary growth driver, reaching $75.2 billion, up 92% year-over-year. Within the segment, compute revenue totaled $60.4 billion, up 77% from a year ago and 18% sequentially, while networking revenue rose to $14.8 billion, up 199% year-over-year and 35% from the prior quarter.
The company said results were driven by strong demand from cloud providers and enterprise customers building out AI infrastructure at scale. Nvidia continues to see broad adoption of its hardware and software platforms across hyperscale and industrial applications.
Capital returns to shareholders also increased during the quarter. Nvidia returned approximately $20 billion through share repurchases and dividends and ended the period with $38.5 billion remaining under its buyback authorization. The board also approved an additional $80 billion share repurchase authorization with no expiration date. In addition, the company raised its quarterly cash dividend from $0.01 per share to $0.25 per share.
Nvidia said it is moving to a new reporting structure designed to better reflect its business mix going forward. The company will organize results into two platforms: Data Center and Edge Computing. Data Center will include hyperscale customers and ACIE, which covers AI clouds, industrial and enterprise customers, while Edge Computing will include PCs, gaming, robotics, automotive, and other edge AI applications.
For the second quarter of fiscal 2027, Nvidia forecast revenue of $91 billion, plus or minus 2%, compared with Wall Street expectations of about $88.5 billion. The company said the outlook does not assume any data center compute revenue from China.
“Agentic AI has arrived, doing productive work, generating real value and scaling rapidly across companies and industries,” Nvidia CEO Jensen Huang said in the company's earnings statement. “Nvidia is uniquely positioned at the center of this transformation as the only platform that runs in every cloud, powers every frontier and open source model, and scales everywhere AI is produced — from hyperscale data centers to the edge.”
Nvidia shares edged 0.7% lower afterhours to about $222, likely reflecting investor profit-taking.