NVIDIA (NASDAQ: NVDA) today reported revenue for the first quarter ended April 30, 2023, of $7.19 billion, down 13% from a year ago and up 19% from the previous quarter. GAAP earnings per diluted share for the quarter were $0.82, up 28% from a year ago and up 44% from the previous quarter.
Q1 Fiscal 2024 Summary
| GAAP |
| ($ in millions, except earnings per share) | Q1 FY24 | Q4 FY23 | Q1 FY23 | Q/Q | Y/Y |
| Revenue | $ | 7,192 | | $ | 6,051 | | $ | 8,288 | | Up 19% | Down 13% |
| Gross margin | | 64.6 | % | | 63.3 | % | | 65.5 | % | Up 1.3 pts | Down 0.9 pts |
| Operating expenses | $ | 2,508 | | $ | 2,576 | | $ | 3,563 | | Down 3% | Down 30% |
| Operating income | $ | 2,140 | | $ | 1,257 | | $ | 1,868 | | Up 70% | Up 15% |
| Net income | $ | 2,043 | | $ | 1,414 | | $ | 1,618 | | Up 44% | Up 26% |
| Diluted earnings per share | $ | 0.82 | | $ | 0.57 | | $ | 0.64 | | Up 44% | Up 28% |
| Non-GAAP |
| ($ in millions, except earnings per share) | Q1 FY24 | Q4 FY23 | Q1 FY23 | Q/Q | Y/Y |
| Revenue | $ | 7,192 | | $ | 6,051 | | $ | 8,288 | | Up 19% | Down 13% |
| Gross margin | | 66.8 | % | | 66.1 | % | | 67.1 | % | Up 0.7 pts | Down 0.3 pts |
| Operating expenses | $ | 1,750 | | $ | 1,775 | | $ | 1,608 | | Down 1% | Up 9% |
| Operating income | $ | 3,052 | | $ | 2,224 | | $ | 3,955 | | Up 37% | Down 23% |
| Net income | $ | 2,713 | | $ | 2,174 | | $ | 3,443 | | Up 25% | Down 21% |
| Diluted earnings per share | $ | 1.09 | | $ | 0.88 | | $ | 1.36 | | Up 24% | Down 20% |
