From Morningstar: 2025-05-29 03:47:00

Nvidia’s fiscal first-quarter revenue of $44.1 billion exceeded guidance, with a 69% increase from last year. Second-quarter revenue guidance of $45 billion suggests 50% year-over-year growth, despite lost revenue from China due to export controls.

Data center revenue reached $39.1 billion, up 73% year over year, with almost 70% from Blackwell products. Gaming revenue increased by 48% sequentially and 42% year over year.

Singapore accounted for 20% of Nvidia’s revenue, with 99% of AI products billed there for US-based customers. Data center networking revenue recovered to nearly $5 billion, up 64% sequentially and 56% year over year.

Long-term demand for Nvidia looks strong, with US deals in AI infrastructure promising growth. CEO Jensen Huang highlighted the importance of AI buildouts for national security. Government demand is expected to drive bullish scenarios for Nvidia.

Nvidia’s stock value was raised to $140 per share from $125, reflecting Blackwell supply growth and strong AI revenue potential. Shares rose 5% after hours, showing investor confidence in Nvidia’s performance despite China export controls.

In the next quarter, Nvidia anticipates modest revenue growth across all segments, with a 3% sequential increase. Revenue growth would have been higher if not for restrictions on selling H20 products in China.



Read more at Morningstar: Nvidia Earnings: Raising Fair Value as Export…