NVIDIA Tops Q1 Forecasts
May 17, 2019
reported revenue for the first quarter ended April 28, 2019, of $2.22
billion compared with $3.21 billion a year earlier and $2.21 billion in
the previous quarter.
GAAP earnings per diluted share for the quarter were $0.64, compared
with $1.98 a year ago and $0.92 in the previous quarter. Non-GAAP
earnings per diluted share were $0.88 compared with $2.05 a year earlier
and $0.80 in the previous quarter.
Wall Street was only looking for 81
cents per share in earnings, and revenue of $2.20 billion.
“NVIDIA is back on an upward trajectory,” said Jensen Huang, founder and
CEO of NVIDIA. “We’ve returned to growth in gaming, with nearly 100 new
GeForce Max-Q laptops shipping. And NVIDIA RTX has gained broad industry
support, making ray tracing the standard for next-generation gaming.
the near-term pause in demand from hyperscale customers, the application
of AI continues to accelerate. AI adoption is accelerating in the
world’s largest industries, moving beyond the cloud to the edge where AI
processing has to be instantaneous. We’re excited about our pending
acquisition of Mellanox, which will help us drive data center
architecture for high performance computing and AI from the cloud to the
edge,” he said.
As previously communicated, NVIDIA intends to return $3.00 billion to
shareholders by the end of fiscal 2020, including $700 million in share
repurchases made during the fourth quarter of fiscal 2019. In the first
quarter of fiscal 2020, the company returned $97 million in quarterly
NVIDIA will pay its next quarterly cash dividend of $0.16 per share on
June 21, 2019, to all shareholders of record on May 31, 2019.