NVIDIA Q1 Profit Rises

(RTTNews) - Technology company NVIDIA Corp. (NVDA) on Wednesday reported first-quarter net income of $1.91 billion or $3.03 per share, higher than $917 million or $1.47 per share in the previous-year period. Net income, excluding certain items, was $2.31 billion or $3.66 per share, compared to $1.12 billion or $1.80 per share in the same period a year ago. On average, 30 analysts polled by Thomson Reuters expected the company to post earnings of $3.28 per share in the quarter. Analysts' estimates, usually exclude, one-time items.

During the three-month period, revenues rose 84 percent to $5.66 billion from $3.08 billion in the first quarter of last year, while analysts were looking for revenues of $5.41 billion.

Looking ahead, in the second quarter, the company expects revenues of $6.30 billion, plus or minus 2 percent, while analysts expect revenues of $5.5 billion in the period. The company will pay its next cash dividend of $0.16 per share on July 1, to all shareholders of record on June 10.