In after-hours trading on Wednesday, May 28, shares of Nvidia (NVDA) were up 4.51% as of 5 p.m. in New York after the company reported earnings for the first quarter of fiscal 2026.
For any company but Nvidia the results would qualify as a home run. For the period ending April 27, Nvidia earned an adjusted $0.81 per share. Analysts had projected earnings of 73 cents a share. Revenue surged 69% year-over-year to $44.06B. Analysts were expecting $43.34 billion in revenue.
Data center revenue jumped 73% year-over-year to $39.1 billion. Automotive and robotics revenue for the period grew to $567 million, up 72% year-over-year. Professional visualization revenue rose 19% year-over-year to $509 million. Gaming revenue for the period was $3.8 billion, up 42% year-over-year.
Adjusted gross margin came in at 60.5% for the quarter, including the loss of $4.6 billion in H20 chip revenue. Adding back in the $4.5 billion charge, adjusted gross margin would have been 71.3%, Nvidia said.
But this isn’t just any company and there are signs in the report that Nvidia’s growth rates continue to fall. For the second-quarter of fiscal 2026, Nvidia expects to generate $45 billion in revenue, plus or minus 2%. This includes a loss of approximately $8B in H20-related revenue. Analysts had been forecasting $45.92 billion in revenue.
The company’s forecast of 10% sequential quarter to quarter growth implies revenue growth of 20% to 30% in the next year.
Nvidia shares had gained 27% in the last year as of the close on May 27.
