Nvidia (NVDA) posted a stellar fiscal first-quarter report, surpassing estimates with adjusted earnings per share of $0.96 and revenue hitting $44.06 billion. The standout was the remarkable 73% surge in data center sales, reaching $39.1 billion, driven by sustained demand for Nvidia's AI chips from major cloud providers.
Despite the strong showing, Nvidia's second-quarter revenue forecast of $45 billion fell slightly short of the $45.9 billion analyst consensus. The company attributed this shortfall to recent U.S. export restrictions impacting its China-bound H20 AI chips, the sole advanced processors permitted for shipment to the country. These restrictions led to an estimated $8 billion decline in potential sales, with a $5.5 billion charge related to unsellable inventory.
Reference from News: Nasdaq 100 Forecast: Nvidia Gains Despite Export Curbs, Salesforce Boosts Revenue View