![]() ![]() NVIDIA has also noted the advancements to GeForce NOW, which now features RTX 3080-class streaming, a larger library, and even the ability to access Fortnite on mobile devices, which now offers one of the only ways to play the battle royale on iOS. The company also hailed its revenue from its gaming division, noting that it has overcome many of the challenges created by the ongoing supply chain crisis to record a substantial $3.62 billion revenue, which is up from 31 percent at this time one year ago. The company will aim to push forward on AI, graphics, robotics, and self-driving cars. NVIDIA expects to ramp up several of its divisions in the second half of 2022, including new GPU, CPU, DPU, and robotics processors. EPS came in at $1.36 per share, which passed the Wall Street consensus estimates of $1.20 per share. Revenue came in at $8.29 billion, which is more than the initial projected $8.12 billion that was expected. ![]() Non-GAAP earnings per diluted share were $1.36, up 49% from a year ago and up 3% from the previous quarter. ![]() GAAP earnings per diluted share for the quarter were $0.64, down 16% from a year ago and down 46% from the previous quarter, and include an after-tax impact of $0.52 related to the $1.35 billion Arm acquisition termination charge. NVIDIA (NASDAQ: NVDA) today reported record revenue for the first quarter ended May 1, 2022, of $8.29 billion, up 46% from a year ago and up 8% from the previous quarter, with record revenue in Data Center and Gaming. Here is the statement from the NVIDIA investor relations website: The news appears to be mostly good, as the company has surpassed its revenue and EPS expectations. Speaking of which, we’ll be covering those earnings report results here at Shacknews, so be sure to check back for more on where Nvidia is at for Q2!įor more on what else Nvidia has been up to, we’ve got a wealth of previous coverage worth reading through including how Nvidia (NVDA) lowered its Q2 2023 revenue guidance below Wall Street estimates, and how Nvidia (NVDA) increased its share buyback to $15 billion through the end of 2023.NVIDIA ($NVDA) has reported in with its earnings for Q1 2023. It’ll be interesting to see whether they’ll be able to bounce back, or whether they’ll dip further once Nvidia shares its earnings report on August 24. ![]() We plan to continue stock buybacks as we foresee strong cash generation and future growth.”įollowing the less than stellar results from Nvidia today, shares dropped 8 percent. “We have slowed operating expense growth, balancing investments for long-term growth while managing near-term profitability. In a quote from CNBC, executive vice president and CFO of Nvidia, Colette Kress, stated: Other factors include ongoing supply chain disruptions.ĭespite this, the company believes its long-term gross margin profile remains intact. © Google FinanceĮlaborating further, Nvidia pointed to things like “lower sell-in of gaming products” and a reduction in channel partner sales “likely due to macroeconomic headwinds” among the factors contributing to the latest dip in revenue. At that time, we’ll be able to dig even deeper into where Nvidia is at for Q2, and what the outlook is moving forward.Īccording to Nvidia, the miss in hitting its $8.1 billion target primarily reflects weaker-than-forecast gaming revenue, which fell 44 percent sequentially and 33 percent from 2021 as reported by outlets like CNBC. The news of Nvidia failing to hit its target comes a few weeks ahead of when the company plans to share its Q2 earnings report on August 24. Cited reasons for lowering its revenue guidance include the war in Ukraine and lockdowns in China as a result of the COVID pandemic. Something to note with Nvidia’s previous $8.1 billion outlook is that this had already been lowered past Wall Street estimates and includes an estimated reduction of approximately $500 million. If you’ve been following along with the financial reports for NVIDIA (NVDA) you may be interested, and potentially dismayed, to hear the company released an early look at Q2 earnings data which indicates a noticeable revenue dip with revenue set at $6.7 billion, far below its original outlook of $8.1 billion. ![]()
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