Nvidia Q1 results: ‘a wonderful company that’s getting stronger’

on May 25, 2022
  • Nvidia reports record Q1 revenue but disappoints on future guidance.
  • Bryn Talkington discussed the earnings report on CNBC's "Closing Bell".
  • Shares of Nvidia Corporation slid roughly 10% in after-hours trading.

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Nvidia Corporation (NASDAQ: NVDA) reported record revenue for its fiscal Q1 on Wednesday. Shares still slid 10% on disappointing guidance for the current financial quarter.

Key takeaways from Nvidia Q1 results

  • Net income printed at $1.62 billion versus the year-ago figure of $1.91 billion.
  • Per-share earnings of 64 cents were lower than 76 cents in Q1 of previous year.
  • On an adjusted basis, per-share earnings stood at $1.36 in the recent quarter.
  • Revenue jumped 46% YoY to $8.29 billion, as per the earnings press release.
  • FactSet consensus was for $1.30 of adjusted EPS on $8.12 billion in revenue.
  • Extended its share repurchase programme to a total of $15 billion through 2023.

Data-centre and gaming sales were up 83% and 31%, respectively, in the fiscal first quarter – both ahead of Street expectations. The stock is now down nearly 50% for the year.

Future outlook and expert’s remarks

The chipmaker expects a $500 million hit in Q2 due to the Ukraine war and lockdowns in China. It now forecasts its revenue to fall between $7.94 billion and $8.26 billion this quarter versus analysts’ call for a higher $8.40 billion instead.

Discussing the earnings report on CNBC’s “Closing Bell”, Requisite Capital Management’s Bryn Talkington said the fundamentals of the company continue to be strong as ever, which makes it a fantastic long-term investment.

Nvidia is at the cross section of every important technology over the next 20 years. Think about AI, autonomous driving, data centre, and gaming. Those aren’t going anywhere. This is a wonderful company that’s getting stronger and stronger.


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