• Nvidia (NASDAQ) reports financial results for its first quarter fiscal 2023.
• A decrease in revenue prediction is due to inflation, COVID-19 and the Russo–Ukraine crises.
• In the May quarter, revenue increased 46% to $8.29Billion.

Nvidia has announced records sales of $8.29Billion for the quarter that ended on May 1, 2022. These figures are up 46% year-over year and 8% quarter over quarter. The company also reported record revenue in gaming and data centers.

The quarter’s GAAP profits per diluted share were $0.64, down 16% year over year and 46% from the prior quarter, with an after-tax effect of $0.52 attributable to the $1.35 billion Arm purchase cancellation fee. Non-GAAP diluted profits per share were $1.36. This was 49% more than the previous quarter and 3% higher.

1.36 adjusted profit per share was higher than $1.30 consensus. Nvidia however, predicted revenues of $8.10billion in the fiscal second-quarter, which was below the $8.399billion average forecast.

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