Nvidia’s beats estimates with quarterly revenue of $7.19B, down 13% from year ago

Nvidia reported revenues of $7.19 billion for the first fiscal quarter ended April 30, down 13% from a year ago. But it beat expectations on Wall Street in the quarter.

The maker of AI and graphics chips said it had record data center revenue of $4.28 billion, up from 14% from a year ago. That’s a sign that data center customers are on a recovery path. In after-hours trading, Nvidia’s stock price is up to $375.26 a share, up 23%.