Entering text into the input field will update the search result below

NVIDIA Corporation (NVDA) CEO Jensen Huang On Q1 2023 Results - Earnings Call Transcript

May 25, 2022 7:24 PM ETNVIDIA Corporation (NVDA) Stock20 Comments
SA Transcripts profile picture
SA Transcripts
142.8K Followers

NVIDIA Corporation (NASDAQ:NVDA) Q1 2023 Earnings Conference Call May 25, 2022 5:00 PM ET

Company Participants

Simona Jankowski - Vice President, Investor Relations

Colette Kress - Executive Vice President & Chief Financial Officer

Jensen Huang - President & Chief Executive Officer

Conference Call Participants

C.J. Muse - Evercore ISI

Matt Ramsay - Cowen

Stacy Rasgon - Bernstein Research

Mark Lipacis - Jefferies

Vivek Arya - BofA Securities

Tim Arcuri - UBS

Ambrish Srivastava - BMO

Harlan Sur - JPMorgan

Chris Caso - Raymond James

Aaron Rakers - Wells Fargo

Operator

Good afternoon. My name is David, and I'll be your conference operator today. At this time, I'd like to welcome everyone to NVIDIA's first quarter earnings call. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be question-and-answer session. [Operator Instructions]

Thank you. Simona Jankowski, you may begin your conference.

Simona Jankowski

Thank you. Good afternoon, everyone, and welcome to NVIDIA's conference call for the First Quarter of Fiscal 2023. With me today from NVIDIA are Jensen Huang, President and Chief Executive Officer; and Colette Kress, Executive Vice President and Chief Financial Officer.

I'd like to remind you that, our call is being webcast live on NVIDIA's Investor Relations website. The webcast will be available for replay until the conference call to discuss our financial results for the second quarter of fiscal 2023. The content of today's call is NVIDIA's property. It can't be reproduced or transcribed without our prior written consent.

During this call, we may make forward-looking statements based on current expectations. These are subject to a number of significant risks and uncertainties and our actual results may differ materially.

For a discussion of factors that could affect our future financial results and business, please

Recommended For You

Comments (20)

A
Many people focus on the gaming market seem to miss the whole point of Nvidia transition since a few years ago which is looking pretty solid with DC getting bigger than gaming for the first time. Nvidia is no longer a chip company producing GPUs for video games. Its an AI company with full stack from the lowest HW to the highest SW apps and its targeting everything AI or everything that needs massive computation power which includes DC, graphics, Automotive etc... gaming is just part of the company now and its no longer the main driving force.
EzekielMX profile picture
Good Lord... Jensen Huang is a beast of a CEO. I can't recall other CEO, probably other than Elon, having such a technical understanding of their products and markets.
S
@rbarris - Thank you for bringing this to our attention. The right name (Orin) has been updated - Transcripts Team.
r
The automated transcription consistently writes "O-RAN"; the name referenced is actually "Orin".
Chris Lau profile picture
Good: Omniverse, AI, NV link.

Bad: Q2 Gaming will decline from last quarter from Q1.
$500m hit.

The supply glut, eth mining drop, delayed upgrade hurts Q2.

Overall, results are as expected.
P
Would not surprise me if they end the week above today’s close. This was not the revenue and earnings Cliff that was expected….
J
@SGK good call.
P
@Jack Baker Thx. New to NVDA but have seen the same with AAPL in the past.....
cdgingrich profile picture
Colette doesn't seem that sharp.
grxbstrd profile picture
“Gaming. Revenue of $3.6 billion rose 6% sequentially and 31% year-on-year”

Where’s the crypto cliff? Wasn’t this supposed to blow up this Q? All those used boards flooding the market and all?

“Pro Visualization. Q1 revenue was $622 million was down sequentially 3% and up 67% from a year ago.”

stunning growth for a mature segment. This is definitely omniverse and creators.

“Data Center. Record revenue of $3.8 billion grew 15% sequentially and accelerated to 83% growth year-on-year.”

Not a lot to be said. We all knew DC was going to be the largest segment at some point.

“Top workloads includes; recommender systems, conversational AI, large language models and cloud graphics.” Let’s just be clear there is basically zero competition in these areas.
grxbstrd profile picture
Another record quarter and some tremendous yoy comparisons.

The crypto concern has fizzled into thin air. Q2 game rev will be down sequentially as they manage transition from Ampere to Ada Lovelace. I would expect it ramp back 2H (assuming some macro environment stability).
J
@grxbstrd thanks, your insights are helpful. Guided $8.1B Q2 revenue seems a bit conservative and is already a 43% growth y/y; I’d guess they will exceed it which bodes well for a strong 2H for FY23.

I have not had a chance to reas the ER yet, did they stick to their full year guidance?
never listen to permabulls profile picture
@grxbstrd not sure who was expecting a flood of used boards but this won't happen until mining is at least somewhat profitable. Altcoins, shitcoins and everything else need to collapse in spectacular fashion.
To report an error in this transcript, .Contact us to add your company to our coverage or use transcripts in your business. Learn more about Seeking Alpha transcripts here. Your feedback matters to us!

About NVDA Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

More on NVDA

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.