NVIDIA Q1 2022 Earnings Report
Key Takeaways
NVIDIA reported record revenue of $5.66 billion for the first quarter of fiscal 2022, up 84 percent from a year earlier. Record revenue was achieved from the company’s Gaming, Data Center and Professional Visualization platforms. GAAP earnings per diluted share for the quarter were a record $3.03, while non-GAAP earnings per diluted share were $3.66.
Record revenue of $5.66 billion, up 84 percent from a year earlier.
Record Gaming revenue of $2.76 billion, up 106 percent from a year earlier.
Record Data Center revenue of $2.05 billion, up 79 percent from a year earlier.
GAAP earnings per diluted share were a record $3.03, up 106 percent from a year ago.
NVIDIA
NVIDIA
Forward Guidance
NVIDIA’s outlook for the second quarter of fiscal 2022 is as follows: Revenue is expected to be $6.30 billion, plus or minus 2 percent. GAAP and non-GAAP gross margins are expected to be 64.6 percent and 66.5 percent, respectively, plus or minus 50 basis points. GAAP and non-GAAP operating expenses are expected to be approximately $1.76 billion and $1.26 billion, respectively. GAAP and non-GAAP other income and expense are both expected to be an expense of approximately $50 million. GAAP and non-GAAP tax rates are both expected to be 10 percent, plus or minus 1 percent, excluding any discrete items.
Positive Outlook
- Revenue is expected to be $6.30 billion, plus or minus 2 percent.
- GAAP gross margins are expected to be 64.6 percent, plus or minus 50 basis points.
- Non-GAAP gross margins are expected to be 66.5 percent, plus or minus 50 basis points.
- GAAP operating expenses are expected to be approximately $1.76 billion.
- Non-GAAP operating expenses are expected to be approximately $1.26 billion.
Challenges Ahead
- GAAP other income and expense are expected to be an expense of approximately $50 million.
- Non-GAAP other income and expense are expected to be an expense of approximately $50 million.
- GAAP tax rates are expected to be 10 percent, plus or minus 1 percent, excluding any discrete items.
- Non-GAAP tax rates are expected to be 10 percent, plus or minus 1 percent, excluding any discrete items.
- GAAP discrete items include excess tax benefits or deficiencies related to stock-based compensation, which are expected to generate variability on a quarter-by-quarter basis.