Nvidia today released its financial report for the first quarter of fiscal year 2019 as of April 29. The earnings report shows that Nvidia’s highly-respected data center division’s revenue is lower than Wall Street’s expectation, and the microchip maker disclosed that its revenue growth is heavily dependent on the turbulent cryptocurrency market. Although the company’s overall revenue exceeded expectations, it still put pressure on its share price. The company’s first-quarter revenue increased by 65.6% year-on-year, but in Nasdaq’s after-hours trading on Thursday, the company’s share price fell 3.13% to US$252 at the time of writing.
The American chip maker’s first-quarter revenue growth was strong, with one side benefiting from its largest business – strong sales of game graphics chips, while also benefiting from new growth areas such as turning into data centers, artificial intelligence and self-driving cars. Achieved diversification of revenue sources.
The company also disclosed for the first time that in the first quarter, its fast-growing but unstable crypto-mining machine-chip business generated revenue of US$289 million, accounting for approximately 9% of its total revenue of US$3.2 billion in the first quarter. Stacy Rasgon, an analyst at market research firm Bernstein, said that this figure is higher than many analysts had previously expected of 200 million U.S. dollars, but Nvidia's announcement of this data should help investors measure its financial position in the company. The impact of the situation.
Colette Kress, CFO of Nvidia, said the company expects that in the second fiscal quarter, revenue related to cryptocurrency will be only about one third of the first quarter. Earlier this year, the retail price of Nvidia's gaming chips soared, as crypto-mining miners snapped up Nvidia's specially developed chips for cryptocurrency mining.
Kress told investors at the earnings conference call: “Although the supply of chips was tight earlier this quarter, the current situation is easing. Therefore, we are pleased to see that the price of our graphics processor (GPU) channels has started to be normal. In the past quarter, gamers outside the market have been excluded due to high prices in the previous quarter, and they can obtain the latest GeForce GTX gaming graphics at a reasonable price.”
In the first quarter, Nvidia’s data center business revenue was US$701 million, an increase of 71% year-on-year, but lower than the average forecast of US$703 million by analysts surveyed by Thomson Reuters. Nvidia's data center services support cloud services such as Amazon AWS, Microsoft Azure, and Alphabet's Google Cloud.
Kevin Cassidy, an analyst at Stifel, an investment company, said: “I think Nvidia's stock price is down, mainly because its revenue growth comes mainly from the cryptocurrency-related income.” He said Nvidia’s first quarter The profit was roughly in line with expectations, "but this may not be enough to make its share price 40 times earnings."
In the first quarter, Nvidia’s gaming chips revenue was US$1.72 billion, a year-on-year increase of 68%, which exceeded analysts’ average forecast of US$1.65 billion.
The cryptocurrency boom has fueled Nvidia's and its rival AMD's growth, as their graphics chips provide the high computing power needed to tap popular virtual currencies such as Bitcoin and Ethereum, but the current virtual currency prices Great fluctuations.
In the first quarter, Nvidia’s automotive business revenue reached US$145 million, a year-on-year increase of 4%, which exceeded the average analyst estimate of US$132 million. The company’s automotive business includes the Drive platform for self-driving cars.
In March this year, Nvidia suspended automatic driving tests worldwide. A week ago, a Uber's self-driving car killed a 49-year-old woman on the streets of Arizona.
In the first quarter ended April 29, the company’s net profit was $1.244 billion, or $1.98 per diluted share; the company’s net profit for the previous quarter was $1.118 billion, or 1.78 per diluted share. US Dollar; Net profit for the same period last year was US$507 million, or US$0.79 per diluted share.
The company’s total revenue for the first fiscal quarter was US$3.21 billion, an increase of 66% from US$1.937 billion in the same period last year.
Not according to U.S. GAAP, Nvidia's diluted earnings per share was $2.05.
According to Thomson Reuters, analysts had expected an average of 2.91 billion U.S. dollars in revenue for the first earnings report.
The American chip maker’s first-quarter revenue growth was strong, with one side benefiting from its largest business – strong sales of game graphics chips, while also benefiting from new growth areas such as turning into data centers, artificial intelligence and self-driving cars. Achieved diversification of revenue sources.
The company also disclosed for the first time that in the first quarter, its fast-growing but unstable crypto-mining machine-chip business generated revenue of US$289 million, accounting for approximately 9% of its total revenue of US$3.2 billion in the first quarter. Stacy Rasgon, an analyst at market research firm Bernstein, said that this figure is higher than many analysts had previously expected of 200 million U.S. dollars, but Nvidia's announcement of this data should help investors measure its financial position in the company. The impact of the situation.
Colette Kress, CFO of Nvidia, said the company expects that in the second fiscal quarter, revenue related to cryptocurrency will be only about one third of the first quarter. Earlier this year, the retail price of Nvidia's gaming chips soared, as crypto-mining miners snapped up Nvidia's specially developed chips for cryptocurrency mining.
Kress told investors at the earnings conference call: “Although the supply of chips was tight earlier this quarter, the current situation is easing. Therefore, we are pleased to see that the price of our graphics processor (GPU) channels has started to be normal. In the past quarter, gamers outside the market have been excluded due to high prices in the previous quarter, and they can obtain the latest GeForce GTX gaming graphics at a reasonable price.”
In the first quarter, Nvidia’s data center business revenue was US$701 million, an increase of 71% year-on-year, but lower than the average forecast of US$703 million by analysts surveyed by Thomson Reuters. Nvidia's data center services support cloud services such as Amazon AWS, Microsoft Azure, and Alphabet's Google Cloud.
Kevin Cassidy, an analyst at Stifel, an investment company, said: “I think Nvidia's stock price is down, mainly because its revenue growth comes mainly from the cryptocurrency-related income.” He said Nvidia’s first quarter The profit was roughly in line with expectations, "but this may not be enough to make its share price 40 times earnings."
In the first quarter, Nvidia’s gaming chips revenue was US$1.72 billion, a year-on-year increase of 68%, which exceeded analysts’ average forecast of US$1.65 billion.
The cryptocurrency boom has fueled Nvidia's and its rival AMD's growth, as their graphics chips provide the high computing power needed to tap popular virtual currencies such as Bitcoin and Ethereum, but the current virtual currency prices Great fluctuations.
In the first quarter, Nvidia’s automotive business revenue reached US$145 million, a year-on-year increase of 4%, which exceeded the average analyst estimate of US$132 million. The company’s automotive business includes the Drive platform for self-driving cars.
In March this year, Nvidia suspended automatic driving tests worldwide. A week ago, a Uber's self-driving car killed a 49-year-old woman on the streets of Arizona.
In the first quarter ended April 29, the company’s net profit was $1.244 billion, or $1.98 per diluted share; the company’s net profit for the previous quarter was $1.118 billion, or 1.78 per diluted share. US Dollar; Net profit for the same period last year was US$507 million, or US$0.79 per diluted share.
The company’s total revenue for the first fiscal quarter was US$3.21 billion, an increase of 66% from US$1.937 billion in the same period last year.
Not according to U.S. GAAP, Nvidia's diluted earnings per share was $2.05.
According to Thomson Reuters, analysts had expected an average of 2.91 billion U.S. dollars in revenue for the first earnings report.
