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Nvidia (NVDA) released its fiscal first-quarter 2027 earnings on May 20 after the markets closed. The report reflected the “usual” quarter with earnings blowing past estimates and the company’s own guidance. The outlook for the current quarter also came in ahead of Wall Street's estimates as Nvidia continues to defy the laws of gravity by capitalizing on the artificial intelligence (AI) boom.
Revenue rose 85% year-over-year (YOY) to $81.6 billion in Q1. For context, that is almost 10 times what Nvidia did in revenue in the corresponding quarter in fiscal 2023. It’s hard to think of a company that is growing at that pace on such a high revenue base. Meanwhile, just as the quarter had all the ingredients markets have grown used to from the chip giant over the past three years, the price action following the report was along the usual lines. NVDA stock closed almost 2% lower on May 21.
