NVIDIA Announces Financial Results for First Quarter Fiscal 2022


Non-GAAP
($ in millions, except earnings per share) Q1 FY22 Q4 FY21 Q1 FY21 Q/Q Y/Y
Revenue$5,661$5,003$3,080Up 13%Up 84%
Gross margin66.2%65.5%65.8%Up 70 bpsUp 40 bps
Operating expenses$1,189$1,187$821--Up 45%
Operating income$2,557$2,089$1,205Up 22%Up 112%
Net income$2,313$1,957$1,120Up 18%Up 107%
Diluted earnings per share$3.66$3.10$1.80Up 18%Up 103%

NVIDIA’s outlook for the second quarter of fiscal 2022 is as follows:

  • Revenue is expected to be $6.30 billion, plus or minus 2 percent.
  • GAAP and non-GAAP gross margins are expected to be 64.6 percent and 66.5 percent, respectively, plus or minus 50 basis points.
  • GAAP and non-GAAP operating expenses are expected to be approximately $1.76 billion and $1.26 billion, respectively.
  • GAAP and non-GAAP other income and expense are both expected to be an expense of approximately $50 million.
  • GAAP and non-GAAP tax rates are both expected to be 10 percent, plus or minus 1 percent, excluding any discrete items. GAAP discrete items include excess tax benefits or deficiencies related to stock-based compensation, which are expected to generate variability on a quarter-by-quarter basis.

Highlights

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