NVIDIA reports $81.6 billion revenue, up 85% year-over-year, and announces $80 billion share repurchase program

NVIDIA delivered revenue of $81.6 billion, growing 85% year-over-year and beating expectations by nearly $3 billion. Hyperscale revenues rose 115% versus the prior year and sequentially; AI cloud, industrial, and enterprise revenue grew 74% from the prior year. The company reported an 11-cent bottom line beat on a $1.76 basis and free cash flow $10 billion above expectations.

NVIDIA bought back nearly $20 billion of stock in the current quarter and announced a new $80 billion share repurchase program despite close to $40 billion remaining on its previous authorization.

The company guided for $91 billion in revenue this quarter, roughly $4 billion above the prior expectation of $87 billion, while continuing to assume no data center compute revenue from China.