Nvidia reports strong results but Outlook is tempered

Shares of Nvidia (NVDA) increased approx. 4% in post-trading time after reporting better than expected earnings and revenue Wednesday.

The AI-Power Center published an increase in revenue of 69% in the first quarter compared to a year ago, when its data center business grew 73% year-over-year. Net income came at $ 18.8 billion, a 26% increase from the previous year.

The move after hours pushed NVDA shares to a modest gain year to date and approx. 20% year-over-year advance.

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And Internet computer (CIP) moved slightly higher after Nvidia’s earning layer, though it remained significantly lower for the day. Nevertheless, it was continuous demand for AI, which was an important driver in 73% growth in the company’s data center business.

NVIDIA, who approached the outlook in the midst of recent global trading security, said it expects it to expect revenue from the second quarter to come under market estimates as a result of customs related restrictions between the US and China.

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