Nvidia posts record quarterly revenue and lifts its dividend

The results

On May 20, 2026, Nvidia reported first-quarter results for fiscal 2027, which ended April 26. Revenue was a record $81.6 billion, up 85% from a year earlier. Data center revenue was about $75.2 billion, and edge computing contributed about $6.4 billion. GAAP net income was $58.3 billion, up 211%, and GAAP earnings per diluted share were $2.39. Non-GAAP earnings per share were $1.87.

Dividend and buyback

• Dividend: the quarterly dividend rises from $0.01 to $0.25 per share, payable on June 26, 2026 to shareholders of record on June 4.
• Buyback: the board added $80 billion to its repurchase authorization on May 18, with no expiration date. About $38.5 billion remained under the previous authorization at quarter end.
• Returns: Nvidia returned a record of about $20 billion to shareholders through repurchases and dividends during the quarter.

The dividend increase is very large in percentage terms, from a token one cent to 25 cents.

The outlook

Nvidia guided second-quarter revenue to $91.0 billion, plus or minus 2%. It said the forecast assumes no data center compute revenue from China, which reflects export restrictions on advanced chips. That means growth depends on customers elsewhere.

What is driving demand

Cloud providers and enterprises continue to spend heavily on AI computing capacity, and Nvidia's chips remain the default for training and running advanced models. That has produced pricing power and high margins. The same trend lifts the wider industry, as shown in our report on global chip sales heading toward a trillion dollars.

Risks to watch

• Concentration. A few very large customers account for much of the spending.
• Customer chips. Large buyers are building their own accelerators.
• Geopolitics. China sales are excluded from guidance, and rules can change quickly.
• Cycle risk. A slowdown in AI spending would hit results quickly.

Nvidia is also expanding beyond data centers, such as with the RTX Spark chip for Windows PCs.