NVIDIA 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.
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. Non-GAAP earnings per diluted share were $1.36, up 49% from a year ago and up 3% from the previous quarter.
“We delivered record results in Data Center and Gaming against the backdrop of a challenging macro environment,” said Jensen Huang, founder and CEO of NVIDIA. “The effectiveness of deep learning to automate intelligence is driving companies across industries to adopt NVIDIA for AI computing. Data Center has become our largest platform, even as Gaming achieved a record quarter.
“We are gearing up for the largest wave of new products in our history with new GPU, CPU, DPU and robotics processors ramping in the second half. Our new chips and systems will greatly advance AI, graphics, Omniverse, self-driving cars and robotics, as well as the many industries these technologies impact,” he said.
However, NVIDIA trimmed its 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.
Some highlights:
- Data Center: First-quarter revenue was a record $3.75 billion, up 83% from a year ago and up 15% from the previous quarter.
- Gaming: First-quarter revenue was a record $3.62 billion, up 31% from a year ago and up 6% from the previous quarter.
- Professional Visualization: First-quarter revenue was $622 million, up 67% from a year ago and down 3% from the previous quarter.
- Automotive and Robotics: First-quarter Automotive revenue was $138 million, down 10% from a year ago and up 10% from the previous quarter.
