NVIDIA Corporation (NASDAQ:NVDA) stock rose 4.09% (As on May 26, 11:21:49 AM UTC-4, Source: Google Finance) after the company beats Wall Street’s estimates for the first quarter. Nvidia’s data center revenue grew 83.1% YOY, accelerating from the previous quarter’s pace. The company said that its data center business was now its biggest platform. Data center revenue of $3.8 billion eclipsed gaming revenue of $3.6 billion. Both data center and gaming revenue hit record levels in the quarter. First-quarter Gaming revenue was a record $3.62 billion, up 31% from a year ago and up 6% from the previous quarter. First-quarter Professional Visualization revenue was $622 million, up 67% from a year ago and down 3% from the previous quarter. First-quarter Automotive revenue was $138 million, down 10% from a year ago and up 10% from the previous quarter.

NVDA in the first quarter of FY 22 has reported the adjusted earnings per share of $1.36, beating the analysts’ estimates for the adjusted earnings per share of $1.29. The company had reported the adjusted revenue growth of 46 percent to $8.29 billion in the first quarter of FY 22, beating the analysts’ estimates for revenue of $8.12 billion.

Additionally, during the first quarter of fiscal 2023, NVIDIA returned to shareholders $2.10 billion in share repurchases and cash dividends. The company has increased and extended the company’s share repurchase program to repurchase additional common stock up to a total of $15 billion through December 2023. NVIDIA will pay its next quarterly cash dividend of $0.04 per share on July 1, 2022, to all shareholders of record on June 9, 2022.

For the second quarter of fiscal 2023, the revenue is expected to be $8.10 billion, plus or minus 2%. This includes an estimated reduction of approximately $500 million relating to Russia and the COVID lockdowns in China. GAAP and non-GAAP gross margins are expected to be 65.1% and 67.1%, respectively, plus or minus 50 basis points. GAAP and non-GAAP operating expenses are expected to be approximately $2.46 billion and $1.75 billion, respectively. GAAP and non-GAAP other income and expense are expected to be an expense of approximately $40 million, excluding gains and losses from non-affiliated investments.

Meanwhile, the company has announced the Arm-based NVIDIA Grace CPU Superchip with two CPU chips connected coherently over NVLink-C2C, a new high-speed, low-latency chip-to-chip interconnect. The company has unveiled NVIDIA Spectrum-4, the world’s first 400Gbps end-to-end networking platform.