Overview

• U.S. AI chipmaker's Q1 revenue rose 85% yr/yr, beating analyst expectations

• Adjusted EPS for Q1 beat analyst expectations

• Company announced $80 bln additional share repurchase authorization and raised quarterly dividend

Outlook

• NVIDIA expects Q2 revenue of $91.0 bln, plus or minus 2%

• Company expects Q2 GAAP gross margin of 74.9%, non-GAAP gross margin of 75.0%

• NVIDIA is not assuming any Data Center compute revenue from China in its Q2 outlook

Result Drivers

• DATA CENTER EXPANSION - Record Data Center revenue driven by accelerated buildout of AI factories and strong demand for agentic AI, per CEO Jensen Huang

• PRODUCT LAUNCHES - New platforms and products for agentic and generative AI, including Vera Rubin CPU and Dynamo 1.0 software, contributed to revenue growth

• EDGE COMPUTING GROWTH - Edge Computing revenue increased due to expanded partnerships in autonomous driving and AI-driven manufacturing

Company press release: ID:nGNX72Rnzy

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$81.62 bln	$78.85 bln (39 Analysts)
Q1 Adjusted EPS	Beat	$1.87	$1.76 (34 Analysts)
Q1 EPS		$2.39
Q1 Net Income		$58.32 bln
Q1 Gross Margin		74.9%
Q1 EBIT		$53.54 bln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 57 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the semiconductors peer group is "buy"

• Wall Street's median 12-month price target for NVIDIA Corp is $275.00, about 24.7% above its May 19 closing price of $220.61

• The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 25 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.