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NVIDIA
🇺🇸 NASDAQ:NVDA
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Apr 26, 2020

NVIDIA Q1 2021 Earnings Report

NVIDIA's Q1 2021 financial results were announced, demonstrating significant year-over-year growth.

Key Takeaways

NVIDIA reported a strong first quarter in fiscal year 2021, with revenue of $3.08 billion, up 39% year-over-year, driven by record Data Center revenue. The company's GAAP earnings per diluted share were $1.47, a 130% increase from the previous year, and non-GAAP earnings per diluted share were $1.80, up 105% year-over-year.

Revenue reached $3.08 billion, a 39% increase year-over-year.

Data Center revenue hit a record $1.14 billion, up 80% year-over-year.

GAAP earnings per diluted share were $1.47, up 130% year-over-year.

Non-GAAP earnings per diluted share were $1.80, up 105% year-over-year.

Total Revenue
$3.08B
Previous year: $2.22B
+38.7%
EPS
$0.045
Previous year: $0.022
+104.5%
GAAP Gross Margin
65.1%
Previous year: 58.4%
+11.5%
Non-GAAP Gross Margin
65.8%
Previous year: 59%
+11.5%
Gross Profit
$2B
Previous year: $1.3B
+54.6%
Cash and Equivalents
$15.5B
Previous year: $2.77B
+458.9%
Free Cash Flow
$754M
Previous year: $592M
+27.4%
Total Assets
$23.3B
Previous year: $14B
+65.9%

NVIDIA

NVIDIA

Forward Guidance

NVIDIA's outlook for the second quarter of fiscal 2021 includes the impact from the acquisition of Mellanox. Revenue is expected to be $3.65 billion, plus or minus 2 percent. GAAP and non-GAAP gross margins are expected to be 58.6 percent and 66.0 percent, respectively, plus or minus 50 basis points.

Positive Outlook

  • Revenue is expected to be $3.65 billion, plus or minus 2 percent.
  • Mellanox is expected to contribute a low-teens percentage of combined second quarter revenue.
  • Non-GAAP gross margins are expected to be 66.0 percent, plus or minus 50 basis points.
  • GAAP and non-GAAP tax rates are both expected to be 9 percent, plus or minus 1 percent, excluding any discrete items.
  • NVIDIA is well positioned to advance the most powerful technology forces of our time – cloud computing and AI.

Challenges Ahead

  • GAAP gross margins are expected to decline sequentially due to an increase in acquisition-related costs.
  • GAAP operating expenses are expected to increase sequentially due to stock-based compensation and acquisition-related costs.
  • GAAP and non-GAAP other income and expense are expected to be an expense of approximately $50 million and $45 million, respectively.
  • Due to current market uncertainties, NVIDIA is evaluating the timing of resuming share repurchases and will remain nimble based on market conditions.
  • The COVID-19 pandemic may continue to impact the company's operations and financial results.

Company Overview

Full financial data and analysis

View NVIDIA