Nvidia Q1 Highlights: China Export Ban Hits Results But Jensen Huang Says Demand 'Incredibly Strong'

Core Insights - Nvidia reported first-quarter revenue of $44.1 billion, a 69% increase year-over-year and a 12% increase from the previous quarter, surpassing the consensus estimate of $43.2 billion [1] - The company faced a $4.5 billion charge related to H20 excess inventory and purchase obligations due to an export ban on H20 products to China, impacting earnings per share [2] - Nvidia's guidance for second-quarter revenue is $45.0 billion, accounting for an $8.0 billion loss in H20 revenue due to export controls [4] Financial Performance - First-quarter earnings per share were reported at 81 cents, missing the consensus estimate of 88 cents [1] - Adjusted quarterly earnings per share would have been 96 cents without the $4.5 billion charge [2] Segment Performance - Data Center segment revenue reached $39.1 billion, up 73% year-over-year and 10% quarter-over-quarter [4] - Gaming & AI PC segment revenue was $3.8 billion, reflecting a 42% year-over-year increase and a 48% quarter-over-quarter increase [4] - Professional Visualization segment revenue was $509 million, up 19% year-over-year, while Automotive segment revenue was $567 million, up 72% year-over-year [4] Future Outlook - The company is guiding for gross margins between 71.8% and 72.0% for the second quarter [5] - CEO Jensen Huang emphasized strong demand for Nvidia's AI infrastructure, highlighting a tenfold increase in AI inference token generation over the past year [5] Stock Performance - Nvidia's stock rose 2.7% to $138.25 in after-hours trading, within a 52-week trading range of $86.63 to $153.13 [5]