The reaction in after-hours trading is shaky, with an early rise fading into a minor loss.
Nvidia's earnings per share for the quarter were $1.87, compared with the $1.77 expected in Bloomberg's compilation of forecasts.
Revenue was $81.6 billion, compared with analysts' average estimate of $79.2 billion. It also compares with just over $44 billion in the first quarter of last year, an increase of 85 percent.
Data center revenue increased 92 percent to $75.2 billion, compared with the same period a year earlier.
“The expansion of AI factories - the largest infrastructure expansion in human history - is accelerating at an extraordinary rate,” said Jensen Huang in a statement.
Nvidia's forecast for the next quarter is revenue of $91 billion. Expectations were just over $87 billion.
The company is launching an additional $80 billion share repurchase program and raising its quarterly dividend from 1 cent to 25 cents per share.
As usual, the report is seen as an important barometer for the entire AI and chip sector. Investors are also looking at how Nvidia has managed to scale up production amid increasingly intense competition.
