U.S. Nvidia reports major increase in revenue for first quarter fiscal 2019

SAN FRANCISCO, May 10 (Xinhua) -- Nvidia Corporation, a world leading company on visual computing technologies, reported a major rise in its revenues of 66 percent from a year earlier to hit a record of 3.21 billion U.S. dollars in the first quarter of fiscal 2019 ending on April 29, 2018.

The Silicon Valley-based American graphics processing units (GPUs) manufacturer said in a statement on Thursday that its Q1 revenue rose 10 percent from 2.91 billion dollars over the previous quarter.

Its generally accepted accounting principles (GAAP) earnings per diluted share for the quarter stood at a record 1.98 dollars, up 151 percent from 0.79 dollars a year ago, and up 11 percent from 1.78 dollars in the previous quarter.

During the first quarter of fiscal 2019, Nvidia returned 746 million dollars to shareholders through a combination of 655 million dollars in share repurchases and 91 million dollars in quarterly cash dividends.

Nvidia said it intends to return 1.25 billion dollars to shareholders through ongoing quarterly cash dividends and share repurchases for fiscal 2019.

The top U.S. GPU manufacturer saw it gaming revenue grow 68 percent from a year earlier to 1.72 billion dollars for the first quarter.

It has recently unveiled NVIDIA RTX, a groundbreaking computer graphics technology that produces movie-quality images in real time, to consolidate its lead in the gaming-related sector.

Nvidia has also achieved good results in its datacenter service, with datacenter revenue growing 71 percent from a year earlier to a record 701 million dollars for the first few months in 2018.

"We had a strong quarter with growth across every platform," said Jensen Huang, founder and chief executive officer of Nvidia. Enditem