AI infrastructure demand remains supply-constrained, with Blackwell ramping from Q2 and potentially extending growth into 2025.
| Quarter | Q1 FY25 |
|---|---|
| Length | 65 minutes |
| EPS | $5.80 |
| EPS consensus | $5.14 |
NVIDIA reported record Q1 revenue of $26 billion, up 18% sequentially and 262% year over year, with data center revenue reaching $22.6 billion. Management said demand for H200 and Blackwell is well ahead of supply and may exceed supply into next year. Blackwell production shipments are expected to begin in Q2, ramp in Q3, and support customer data centers in Q4. Q2 revenue guidance is $28 billion ±2%, while non-GAAP gross-margin guidance declines to 75.5% ±50 basis points.
What changed, guidance prior to now, analyst Q&A candor and the case for and against are part of Core.
Other quarters: Q2 FY27 · Q1 FY27 · Q4 FY26 · Q3 FY26 · Q2 FY26 · Q1 FY26
Read the full Q1 FY25 earnings call transcript
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Transcript produced by Signals.AI from the company's own earnings call audio. Not personalized investment advice.