American graphics processor manufacturer Nvidia Corp. increased its net profit and revenue in the first quarter of fiscal 2026, with adjusted profit and revenue better than market forecasts.
The company’s forecast for the current quarter was disappointing due to a ban on the export of certain chips to China, but its shares still rose in additional trading on Wednesday.
For the quarter ended April 27, Nvidia’s net profit amounted to $18.8 billion, or 76 cents per share, compared to $14.9 billion, or 60 cents per share, for the comparable period of the previous fiscal year.
Adjusted earnings amounted to 96 cents per share, exceeding the consensus forecast of 93 cents per share of analysts polled by LSEG.
The company’s quarterly revenue rose to $44.06 billion from $26.04 billion a year earlier, against the market’s average forecast of $43.31 billion.
The data center division’s revenue increased by 73% to $39.1 billion, and Nvidia’s gaming business’s revenue increased by 42% to $3.8 billion.
According to the company’s forecast, its profit will increase to $45 billion in the current quarter. Experts had expected a more optimistic forecast of $45.9 billion.
According to the company, the forecast would have been about $8 billion higher without restrictions on the supply of H20 chips to China. Due to this restriction, a $4.5 billion write-down was recorded in the first fiscal quarter.
Nvidia will pay a quarterly dividend of 1 cent per share on July 3, with the shareholder register closing on June 11.
Nvidia shares rose 4.9% in additional trading on Wednesday. The company’s capitalization has remained almost unchanged since the beginning of 2025, at $3.3 trillion.