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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.
NVIDIA
NVIDIA
NVIDIA Revenue by Segment
Revenue by Segment
Data Center Revenue
CapyFin.comGaming Revenue
CapyFin.comPro Visualization Revenue
CapyFin.comAutomotive Revenue
CapyFin.com 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income