NVIDIA Corporation (NASDAQ:NVDA ) Q1 2025 Earnings Conference Call May 22, 2024 5:00 PM ET Company Participants Simona Jankowski - Vice President, Investor Relations Colette Kress - Executive Vice President and Chief Financial Officer Jensen Huang - President and Chief Executive Officer Conference Call Participants Stacy Rasgon - Bernstein Timothy Arcuri - UBS Vivek Arya - Bank of America Securities Joseph Moore - Morgan Stanley Toshiya Hari - Goldman Sachs Matthew Ramsay - TD Cowen Mark Lipacis - Evercore ISI Blayne Curtis - Jefferies Srini Pajjuri - Raymond James William Stein - Truist Securities C.J. Muse - Cantor Fitzgerald Operator Good afternoon.
Nvidia (NVDA) came out with quarterly earnings of $6.12 per share, beating the Zacks Consensus Estimate of $5.49 per share. This compares to earnings of $1.09 per share a year ago.
Nvidia's revenue more than tripled in the fiscal first quarter and its data center business grew by more than 400% from a year earlier. Now Nvidia is trying to signal to investors that the companies buying billions of dollars of its chips will also be able to make money off artificial intelligence.
After Nvidia (NVDA) reported first-quarter results surpassing lofty expectations, CEO Jensen Huang and other executives joined the chipmaker's earnings call to talk about the Blackwell rollout, debunk concerns about an "air pocket" in demand, how sovereign artificial intelligence (AI) and multimodality are positive drivers for Nvidia, and what's next after Blackwell.
Nvidia CEO Jensen Huang said the company's newest AI chip will start shipping next quarter. The Blackwell chip is twice as fast Nvidia's current Hopper chip.
Rapidly growing sovereign-AI business expected to earn billions this year, after nothing last year.
Nvidia is cashing in on the AI boom it has been driving by giving investors a hefty 10-for-1 stock split as revenues continue to grow faster than Wall Street expectations.
NVDA posted earnings of $6.12 per share, well above the $5.49 anticipated and a whopping +561% year over year.
While the top- and bottom-line numbers for Nvidia (NVDA) give a sense of how the business performed in the quarter ended April 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Nvidia's long track record of performance has fueled a surge in its stock price. Management announced a 10-for-1 stock split, which will take place in June.
Nvidia's Q1 revenue hit a record $26 billion, surpassing analyst estimates. Nvidia also gave a bullish second-quarter sales forecast.
After hours, the stock market continued its feast-or-famine ways. Nvidia rose to as high as 1,023 in extended hours trading.