Nvidia reported $81.6 billion in Q1 revenue, up 85%, while shipping zero H20 chips to China and guiding Q2 to $91 billion.
Nvidia posted Q1 revenue of $81.615 billion, a 85.23% year-over-year increase, despite shipping zero H20 compute products to China, down from $4.6 billion a year earlier. The company beat estimates by 3.16%, with Data Center revenue surging 92% to $75.246 billion.
Networking revenue nearly tripled to $14.800 billion, while management guided Q2 revenue to $91.0 billion, assuming no China Data Center compute sales. The company’s forward P/E of 23 remains below AMD’s 76 and Intel’s 118, with a 101% return on equity.
Nvidia shares traded at $207.40, with an analyst target of $301.62. CEO Jensen Huang cited $1 trillion in Blackwell and Rubin revenue visibility through 2027, backed by OpenAI’s 10-gigawatt commitment.