Nvidia Reports 69% Revenue Surge in Q1, Shares Rise After Earnings Beat
Nvidia (NVDA) shares climbed about 4% in after-hours trading on Wednesday following a strong earnings report that exceeded market expectations.
The AI technology leader posted a remarkable 69% increase in first-quarter revenue compared to the same period last year. Its data center segment, a key driver of growth, saw revenue rise 73% year-over-year. Net income reached $18.8 billion, marking a 26% increase from the prior year.
The after-hours rally brought Nvidia’s stock to a modest gain for the year so far and a roughly 20% increase over the past 12 months.
Following Nvidia’s earnings announcement, AI-related cryptocurrencies such as Bittensor, NEAR Protocol (NEAR), and Internet Computer (ICP) saw modest gains, though they remained down for the trading day overall. The surge in Nvidia’s data center revenue highlights ongoing strong demand for AI technologies, a major factor boosting related crypto assets.
Looking ahead, Nvidia cautioned that second-quarter revenue may fall short of analyst estimates due to trade tensions and tariff-related restrictions between the U.S. and China.
