Nvidia's first quarter sales reached $8.16 billion, exceeding expectations.

Nvidia released its financial report, with sales reaching $81.6 billion in the fiscal quarter ending in April, an increase of 85% compared to the same period last year, exceeding analysts' forecast of $78.9 billion by 3.4%. Net profit for the quarter was $58.3 billion, more than triple the same period last year, exceeding analysts' forecast of $42.9 billion by 36.5%. The company had previously projected a profit margin of 75% in February, which remained consistent with the fourth fiscal quarter ending in January. Nvidia's gross margin, announced on Wednesday, was exactly 75%, meeting its own and analysts' expectations. Nvidia also raised its outlook for the current fiscal quarter, estimating sales to reach $91.0 billion with a gross margin of 75%. The company's stock price remained relatively unchanged in after-hours trading.