NVIDIA (NVDA) Tops Q1 Revenue, Offers Guidance
NVIDIA (NASDAQ: NVDA) reported Q1 EPS of $0.96, $0.03 better than the analyst estimate of $0.93. Revenue for the quarter came in at $44.1 billion versus the consensus estimate of $43.31 billion.
- For the quarter, GAAP and non-GAAP earnings per diluted share were $0.76 and $0.81, respectively. Excluding the $4.5 billion charge and related tax impact, first quarter non-GAAP diluted earnings per share would have been $0.96.
GUIDANCE:
NVIDIA sees Q2 2026 revenue of $45 billion, versus the consensus of $45.21 billion.
- Revenue is expected to be $45.0 billion, plus or minus 2%. This outlook reflects a loss in H20 revenue of approximately $8.0 billion due to the recent export control limitations.
- GAAP and non-GAAP gross margins are expected to be 71.8% and 72.0%, respectively, plus or minus 50 basis points. The company is continuing to work toward achieving gross margins in the mid-70% range late this year.
- GAAP and non-GAAP operating expenses are expected to be approximately $5.7 billion and $4.0 billion, respectively. Full year fiscal 2026 operating expense growth is expected to be in the mid-30% range.
- GAAP and non-GAAP other income and expense are expected to be an income of approximately $450 million, excluding gains and losses from non-marketable and publicly-held equity securities.
- GAAP and non-GAAP tax rates are expected to be 16.5%, plus or minus 1%, excluding any discrete items.
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