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May 01, 2022
NVIDIA Q1 2023 Earnings Report
Reported record revenue for the first quarter, driven by Data Center and Gaming.
Key Takeaways
NVIDIA reported record revenue of $8.29 billion for the first quarter of fiscal year 2023, up 46% year-over-year, with record revenue in Data Center and Gaming. GAAP earnings per diluted share were $0.64, while non-GAAP earnings per diluted share were $1.36.
Record quarterly revenue of $8.29 billion, up 46% from a year ago.
Data Center and Gaming achieved record quarterly revenue.
GAAP earnings per diluted share were $0.64, down 16% from a year ago.
Non-GAAP earnings per diluted share were $1.36, up 49% from a year ago.
Revenue by Segment
Forward Guidance
NVIDIA’s outlook for the second quarter of fiscal 2023 is as follows: Revenue is expected to be $8.10 billion, plus or minus 2%. This includes an estimated reduction of approximately $500 million relating to Russia and the COVID lockdowns in China. GAAP and non-GAAP gross margins are expected to be 65.1% and 67.1%, respectively, plus or minus 50 basis points. GAAP and non-GAAP operating expenses are expected to be approximately $2.46 billion and $1.75 billion, respectively. GAAP and non-GAAP other income and expense are expected to be an expense of approximately $40 million, excluding gains and losses from non-affiliated investments. GAAP and non-GAAP tax rates are expected to be 12.5%, plus or minus 1%, excluding any discrete items.
Challenges Ahead
- Revenue is expected to be $8.10 billion, plus or minus 2%.
- Includes an estimated reduction of approximately $500 million relating to Russia and the COVID lockdowns in China.
- GAAP gross margins are expected to be 65.1%, plus or minus 50 basis points.
- Non-GAAP gross margins are expected to be 67.1%, plus or minus 50 basis points.
- GAAP and non-GAAP operating expenses are expected to be approximately $2.46 billion and $1.75 billion, respectively.
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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