NVIDIA Earnings Soar to New Heights: What You Need to Know

NVIDIA Corporation has just released its fiscal first quarter (FQ1) earnings report for 2023, and the results are nothing short of phenomenal. The company's EPS on a generally accepted accounting principles (GAAP) basis skyrocketed by an impressive 103% year over year to a record $1.18 per share, while adjusted EPS surged 69% to $1.32.

The growth is largely attributed to record revenue in the gaming, data center, and professional visualization platforms, which have been driving NVIDIA's success for several quarters now. To put this into perspective, last quarter (FQ4 2022) saw a remarkable 53% year-over-year increase in revenue, with the company reporting a record $7.64 billion.

NVIDIA's adjusted EPS, which takes into account a 4-for-1 stock split that occurred in July 2021, also reflects this significant growth. As a result of this stock split, the share count increased by a factor of four, making it essential to adjust the metrics to ensure accurate comparison with previous periods.

Industry experts had been anticipating these impressive results, and according to Wall Street's Fiscal Q1 2023 consensus estimate, NVIDIA has exceeded expectations once again. With its continued dominance in the gaming, data center, and professional visualization markets, it is clear that the company remains a force to be reckoned with in the technology sector.

NVIDIA's earnings report serves as a testament to the company's commitment to innovation and excellence, and it will likely have a significant impact on the stock market. As investors and analysts continue to digest this information, one thing is certain – NVIDIA is poised for continued success and growth in the years to come.

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