NVIDIA Corp. said it posted record earnings and revenue in the first quarter of its fiscal 2019.
Net income for the quarter that ended April 29 came in at $1.24 billion, or $1.98 per diluted share, up from $507 million, or 79 cents per diluted share, in the same period last year.
On a non-GAAP basis, diluted EPS was a record $2.05, up from 85 cents. S&P Capital IQ's consensus normalized EPS estimate was $1.66.
Consolidated revenue rose 66% to a record $3.21 billion for the quarter from $1.94 billion. Nvidia's gaming business drove the gain, posting revenue of $1.72 billion, up 68% from a year earlier.
Datacenter revenue surged 71% to $701 million, while professional visualization revenue rose 22% to $251 million. The automotive business generated $145 million, up 4% from a year ago.
Income from operations for the quarter jumped by 134% to $1.30 billion from $554 million.
Nvidia said it expects its second-fiscal-quarter revenue to come in at $3.10 billion, plus or minus 2%.
The visual computing company said it returned about $746 million to shareholders in the first quarter, comprising $655 million in stock buybacks and $91 million in dividends. Nvidia plans quarterly cash dividends and share repurchases totaling $1.25 billion for fiscal 2019.