NVIDIA Q1 2024 Earnings Report
Key Takeaways
NVIDIA reported Q1 fiscal year 2024 revenue of $7.19 billion, a 13% decrease year-over-year but a 19% increase from the previous quarter. GAAP earnings per diluted share were $0.82, up 28% from a year ago and up 44% from the previous quarter. The company's data center revenue reached a record $4.28 billion.
Quarterly revenue was $7.19 billion, up 19% from the previous quarter.
Data Center revenue reached a record $4.28 billion.
GAAP earnings per diluted share were $0.82, up 28% from a year ago.
Second quarter fiscal 2024 revenue is expected to be $11.00 billion.
NVIDIA
NVIDIA
Forward Guidance
NVIDIA’s outlook for the second quarter of fiscal 2024 is as follows: Revenue is expected to be $11.00 billion, plus or minus 2%. GAAP and non-GAAP gross margins are expected to be 68.6% and 70.0%, respectively, plus or minus 50 basis points. GAAP and non-GAAP operating expenses are expected to be approximately $2.71 billion and $1.90 billion, respectively. GAAP and non-GAAP other income and expense are expected to be an income of approximately $90 million, excluding gains and losses from non-affiliated investments. GAAP and non-GAAP tax rates are expected to be 14.0%, plus or minus 1%, excluding any discrete items.