芯片巨头$英伟达(NVDA.US)$上一季度的盈利和收入都高于市场预期，但本季度的营收指引低于预期，股价盘后重挫。
美东时间5月25日周三美股盘后，英伟达公布，截至公历2022年5月1日的2023财年第一财季（下称「一季度」），营业收入和每股收益（EPS）均刷新上一季度所创的历史高位。
一季度营业收入82.88亿美元，同比增长46%，市场预期81.2亿美元，第四财季同比增53%。
一季度非GAAP口径下调整后EPS为1.36美元，同比增长49%，市场预期1.30美元，第四财季同比增69%。
一季度非GAAP口径下毛利率67.1%，同比上升90个基点，略高于之前指引中位值67%，第四财季也为67%。
业绩指引方面，英伟达预计第二财季营收约为81亿美元，在正负2%区间浮动，即79.38亿到82.62亿美元，而分析师预期为84.4亿美元。英伟达称，二季度因俄乌冲突和中国疫情的影响，营收将减少约5亿美元。英伟达首席财务官Colette Kress指出，这5亿美元中，对游戏业务的影响有4亿美元，对数据中心影响1亿美元。
公布业绩的同时，英伟达称，一季度通过回购股票和派息回馈股东21亿美元，董事会决定扩大回购股票的规模，截至2023年12月，将增加回购多达150亿美元。
尽管英伟达一季度业绩优于预期，并且将扩大回购规模，从股价表现看，投资者仍更看重二季度指引不佳的坏消息。财报公布后，周三本收涨逾5%的英伟达股价盘后跳水，跌幅一度超过10%。美股大盘受拖累，收涨逾1%的纳斯达克100盘后也转跌。其他芯片股盘后普跌，AMD盘后跌超2%，半导体行业ETF SOXX盘后跌超1%。
游戏和数据中心收入再创新高 数据中心有望继续创纪录
分业务看，英伟达的两大核心业务——游戏和数据中心的收入也双双刷新上一季度所创的新高，其中数据中心的增长较上一季更强劲。而专业可视化的收入低于预期，增速远不及上季度。
一季度游戏业务营收为36.2亿美元，同比增长31%，环比增长6%，市场预期34.6亿美元，第四财季同比增37%、环比增6%。
一季度数据中心营收37.5亿美元，同比增长83%，环比增长15%，市场预期36亿美元，第四财季同比增71%、环比增11%。
一季度专业可视化营收6.22亿美元，同比增长67%，环比下降3%，市场预期6.479亿美元，第四财季同比增109%、环比增11%。
一季度汽车业务收入1.38亿美元，同比下降10%，环比增长10%，去年四季度同比降14%、环比降7%。
英伟达CEO黄仁勋表示，虽然游戏业务收入创新高，但数据中心已经是英伟达最大的平台。业绩电话会上，他说，预计数据中心还将创新高，对下半年怀有热情。AI投资是企业们可靠的战略。大多数公司都在做特定领域的智能。
在数据中心业务方面，首席财务官Kress称，英伟达预计，数据中心未来增长势头强劲。一季度，来自超大规模和云计算客户的销售收入同比翻了一倍多。垂直行业的需求仍强劲，网络方面的营收加速增长。
供应问题今年料将好转 游戏业二季度销售或将环比降逾10%
黄仁勋说，因零部件短缺，英伟达的网络业务仍受到很大的限制。但供应问题今年内料将逐步好转。Kress说，像图形处理器（GPU）这类网络产品供应仍受限，但今年的此后时间料将好转。
业绩电话会上，问及游戏业的需求和二季度之后的前景，黄仁勋说，游戏业的潜在势头仍强劲，最近几年出了很多新的PC玩家，难以预测新冠疫情和俄乌冲突何时结束，但游戏业的态势仍然很好。
问及游戏业销售额二季度会怎样下降，Kress说，英伟达预计，二季度游戏业的销售收入将环比一季度减少百分之十几，公司认为游戏业的终端需求仍强劲，预计二季度终端需求仍会同比正增长。
Chip giant$NVIDIA Corp (NVDA.US) $Earnings and revenue beat market expectations in the last quarter, but revenue guidance for the quarter was lower than expected and shares tumbled in after-hours trading.
NVIDIA Corp announced that operating income and earnings per share (EPS) reached record highs in the first quarter of fiscal year 2023 (hereinafter referred to as "the first quarter") in the fiscal year ending May 1, 2022, after US stocks traded on Wednesday, May 25, Eastern time.
Revenue in the first quarter was $8.288 billion, up 46% from a year earlier, with market expectations of $8.12 billion and a 53% year-on-year increase in the fourth quarter.
Non-GAAP adjusted EPS was $1.36 in the first quarter, up 49% from a year earlier. The market expects $1.30 and 69% year-on-year growth in the fourth quarter.
The non-GAAP gross margin in the first quarter was 67.1 per cent, up 90 basis points from a year earlier, slightly higher than the previous median of 67 per cent and 67 per cent in the fourth quarter.
In terms of performance guidance, NVIDIA Corp expects second-quarter revenue of about $8.1 billion, fluctuating between plus and minus 2 per cent, or $7.938 billion to $8.262 billion, compared with analysts' expectations of $8.44 billion.NVIDIA Corp said revenue would be reduced by about $500m in the second quarter due to the conflict between Russia and Ukraine and the epidemic in China. Colette Kress, chief financial officer of NVIDIA Corp, pointed out that of the $500m, $400m had an impact on the gaming business and $100m on the data center.
At the same time as the results were announced, NVIDIA Corp said that the board of directors decided to expand the scale of share buybacks by returning 2.1 billion US dollars to shareholders through share buybacks and dividends in the first quarter.Buybacks will be increased by as much as $15 billion.
Although NVIDIA Corp's first-quarter results are better than expected and will expand the scale of buybacks, investors are still more focused on the bad news of poor guidance in the second quarter from the perspective of share price performance. NVIDIA Corp's shares, which closed up more than 5 per cent on Wednesday, plunged in after-hours trading after the results were announced, falling more than 10 per cent at one point.The broader US stock market was dragged down, with Nasdaq, which closed up more than 1%, also fell after 100 trading. Other chip stocks fell after hours, AMD fell more than 2% after hours, and the semiconductor industry ETF SOXX fell more than 1% after hours.
Revenue from games and data centers hit new highs and data centers are expected to continue to set records
In terms of business, the revenue of NVIDIA Corp's two core businesses, games and data centers, also refreshed the record highs set in the previous quarter, of which data center growth was stronger than the previous quarter. Revenue from Professional Visualization was lower than expected and the growth rate was much lower than last quarter.
Revenue from the game business in the first quarter was $3.62 billion, up 31 per cent from a year earlier and 6 per cent from a month earlier. The market expects $3.46 billion, 37 per cent year-on-year and 6 per cent in the fourth quarter.
Data center revenue in the first quarter was $3.75 billion, up 83% year-on-year and 15% month-on-month. The market expects $3.6 billion, 71% year-on-year and 11% in the fourth quarter.
Revenue from professional visualization in the first quarter was $622 million, up 67% from a year earlier, down 3% from a month earlier, and the market is expected to be $647.9 million, up 109% from a year earlier and 11% from a month earlier.
The revenue of the automobile business in the first quarter was 138 million US dollars, down 10 per cent from the same period last year, up 10 per cent from the previous quarter, down 14 per cent from the same period last year and 7 per cent from the previous quarter.
NVIDIA Corp CEO Huang Renxun said that although the revenue of the game business has reached a new high, the data center is already NVIDIA Corp's largest platform. On the earnings call, he said that the data center is expected to hit a new high and is enthusiastic about the second half of the year. AI investment is a reliable strategy for enterprises. Most companies are working on specific areas of intelligence.
In terms of the data center business, Chief Financial Officer Kress said NVIDIA Corp expects strong growth in the data center in the future. In the first quarter, sales from large-scale and cloud computing customers more than doubled compared with the same period last year. Demand in the vertical sector remains strong and revenue growth in the network is accelerating.
Supply problems are expected to improve this year. Sales in the game industry may fall by more than 10% in the second quarter.
Huang Renxun said NVIDIA Corp's online business is still subject to great restrictions due to a shortage of parts. However, the supply problem will gradually improve this year. The supply of network products such as graphics processing units (GPU) is still limited, but it is expected to improve later this year, Kress said.
During the performance call, Huang Renxun asked about the demand of the game industry and the prospect after the second quarter. Huang Renxun said that the potential momentum of the game industry is still strong, and many new PC players have emerged in recent years. It is difficult to predict when the COVID-19 epidemic and the conflict between Russia and Ukraine will end, but the game industry is still in good shape.
Asked how sales in the game industry will decline in the second quarter, Kress said that NVIDIA Corp expects sales revenue in the game industry to drop by more than 10 percent in the second quarter compared with the first quarter. The company believes that terminal demand in the game industry is still strong, and that terminal demand in the second quarter is still expected to grow positively.
