The guidance also looked good further down the P&L. Looking forward into fiscal Q1, the management team guided for revenues that beat consensus lavishly: $8.1 billion at the midpoint of the range against consensus of $7.3 billion. This was NVIDIA’s widest net earnings beat since early 2018.Īnd NVIDIA’s growth story is far from over. The sharp increases in both revenues and gross profits allowed for P&L leverage, causing GAAP op profit of $3 billion to nearly double over last year.Īll accounted for, non-GAAP EPS landed at $1.32, which was about a dime better than expectations. Rich GAAP gross margin of 65.4% expanded by more than two percentage points YOY. Share Price Decline & Reduced Valuation Multiple: Shares of NVIDIA have plunged 21.7 in the year-to-date (YTD) period, while the stock is down 33. For instance, strength in GPUs has been riding the tailwinds in gaming, while the need for AI to power cloud and other internet applications has been a major positive factor for NVIDIA’s compute systems. While different themes have been playing out across the tech space, NVIDIA seems to benefit from nearly all of them. Gaming grew 37% YOY, a deceleration from the prior three quarters, and DC revenue growth accelerated to a whopping 71%. Strength came from both gaming and data center, NVIDIA’s two largest segments at between $3.3 billion and $3.4 billion in revenues each. What were NVDAs earnings last quarter On May 25, 2022, Nvidia (NASDAQ: NVDA) reported Q2 2022 earnings per share (EPS) of 0.26, up 72.63 year over year.
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