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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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