By Davit Kirakosyan

NVIDIA (NASDAQ:) shares were trading around 6% lower after-hours following the company’s reported . Although the company’s reported EPS was $1.36, and the revenue of $8.29billion (up 46% year over year) were better than consensus estimates of $1.29 million and $8.12 billion respectively, the Q2 revenue guidance fell short of expectations.

Gaming and Data Center saw record revenues. Data Center revenue in Q1 was $3.75 Billion, an 83% increase year-over year. Gaming revenue was 3Billion (up 31%).

“We delivered record results in Data Center and Gaming against the backdrop of a challenging macro environment,” said Jensen Huang, founder and CEO of NVIDIA. “The effectiveness of deep learning to automate intelligence is driving companies across industries to adopt NVIDIA for AI computing. Data Center was our most successful platform even though Gaming had a record-breaking quarter. “We are gearing up for the largest wave of new products in our history with new GPU, CPU, DPU and robotics processors ramping in the second half. Our new chips and systems will greatly advance AI, graphics, Omniverse, self-driving cars and robotics, as well as the many industries these technologies impact,” he said.

According to the company, Q2/23 revenue will be $8.10billion plus or minus 2.2%. That’s less than $8.45billion consensus.

The company’s board of directors also announced an additional share repurchase program of up to $15 billion through December 2023.

NVIDIA’s shares fell 42% from the previous year, according to preliminary results.