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Jan 26, 2020
NVIDIA Q4 2020 Earnings Report
NVIDIA's Q4 2020 earnings were released, revealing a revenue increase of 41% year-over-year and GAAP EPS up by 66%.
Key Takeaways
NVIDIA reported strong Q4 results with revenue of $3.11 billion, a 41% increase year-over-year. GAAP EPS was $1.53, up 66% year-over-year, and non-GAAP EPS was $1.89, up 136% year-over-year. Record data center revenue drove excellent results.
NVIDIA reported Q4 revenue of $3.11 billion, up 41% year-over-year.
GAAP earnings per diluted share for Q4 were $1.53, a 66% increase year-over-year.
Non-GAAP earnings per diluted share for Q4 were $1.89, a 136% increase year-over-year.
The company's fiscal year 2020 revenue was $10.92 billion, a 7% decrease year-over-year.
NVIDIA
NVIDIA
Forward Guidance
NVIDIA provided its outlook for the first quarter of fiscal year 2021, which does not include any contribution from the pending acquisition of Mellanox Technologies, Ltd. The company reduced its revenue outlook for the first quarter of fiscal 2021 by $100 million to account for the potential impact of the coronavirus.
Positive Outlook
- Revenue is expected to be $3.00 billion, plus or minus 2 percent.
- GAAP gross margin is expected to be 65.0 percent, plus or minus 50 basis points.
- Non-GAAP gross margins are expected to be 65.4 percent, plus or minus 50 basis points.
- GAAP other income and expense are both expected to be income of approximately $25 million.
- Non-GAAP other income and expense are both expected to be income of approximately $25 million.
Challenges Ahead
- The ultimate effect of the coronavirus is difficult to estimate.
- The company has reduced its revenue outlook for the first quarter of fiscal 2021 by $100 million to account for its potential impact.
- GAAP operating expenses are expected to be approximately $1.05 billion.
- Non-GAAP operating expenses are expected to be approximately $835 million.
- GAAP and non-GAAP tax rates are both expected to be 9 percent, plus or minus 1 percent, excluding any discrete items.