NVIDIA (NASDAQ: NVDA) 1Q20 Results: Beats Consensus Estimates, Revenues Down Year Over Year but Up Sequentially

Executive Summary

• NVIDIA reported fiscal 1Q20 revenues of $2.22 billion, down 30.8% year over year and slightly ahead of the $2.20 billion consensus estimate. Adjusted EPS was $0.88, down 57.0% year over year and beating the $0.57 consensus estimate.
• Revenues in the company’s core GPU and gaming segments declined year over year but grew sequentially.
• For fiscal 2Q20, the company guided for revenues of $2.5-2.6 billion, down 17-20% year over year, plus adjusted EPS of $1.07-1.20, above the $0.90 consensus estimate.