The company reported quarterly earnings of $3.66 per share on revenue of $5.66 billion. Analysts were expecting Nvidia to report earnings of $3.29 per share on revenue of $5.4 billion.
Check out Eric Jhonsa’s live blog of Nvidia’s earnings report and call with analysts.
"Our partners are launching the largest-ever wave of Nvidia-powered laptops. Across industries, the adoption of Nvidia computing platforms is accelerating," said CEO Jensen Huang in a statement.
For the fiscal second quarter, which ends in July, the company expects revenue of $6.3 billion at the midpoint, well above FactSet's consensus estimates of $5.47 billion.
Nvidia shares were down 0.5% to $624.67 after hours Wednesday after rising 0.3% during the day's trading. Shares are up 20% year-to-date and almost 80% over the last 12 months, compared to the S&P 500's 12% year-to-date rise and 40% increase over the last year.
The company reported record gaming segment revenue of $2.76 billion, more than double what it generated a year ago and ahead of analyst estimates for $2.72 billion. Data center revenue rose 79% year-over-year to $2.05 billion, beating a $2.01 billion consensus.
The company also says it plans to make headway in its planned acquisition of fellow semiconductor company Arm Ltd, which is facing scrutiny both in the U.S. and abroad.
Last week, Nvidia announced a 4-for-1 stock split to make it easier for employees and outside investors to buy shares.
If shareholders approve the plan -- a virtual certainty -- each Nvidia stockholder of record June 21, will receive a dividend of three additional common shares for every share held. The new shares are set to be distributed after the close of trading on July 19.