Nvidia Financial Results for Fourth Quarter and Fiscal 2025

- option implied move of 10%, that's a big swing either way

- Q4 EPS $0.89, Est $0.84

- Q4 Gross Margins 73.5%, Est 73.5%

- Q4 Rev $39.3B Est $38.5B

- Q4 Data center rev $35.6B, Est $34.1B

- Forecasts Q1 Rev of $43B, so expecting a new year bump

- Automotive Rev $570M Est $500M

- Networking Rev $3B, Est $3.6B, look for a a Q1 increase

- R&D expenses $3.7B up 51% yoy, Est $3.75B

- Q4 gaming revenue down on limited supply of ADA and Blackwell supply, which is fine as gaming rev is around $2.5B. Hard to believe that this was the entire company just 10 years ago

To Watch:

- Look at geography of sales of H series chips

- what do they say about next refresh

- used to be counted on to beat Est by 10-20%, now expected to meet Estimates

- Can they ramp up Blackwell, turns out they can, nothing wrong with their pipeline so far( $11B delivered in Q4)

Notes:

- company now has $43B in cash, close to double what it had a year ago. Watch for a fat 1 time Div, MSFT, AAPL, etc all did it when their cash pile got to large

- shares down YTD which could be profit taking for those hedge funds that deferred gains till the new year

- Current data center GPU break down is 94% NVDA, 5.9% AMD and 0.1% Intel

- Market so far is Meh about this, which is probably a win for the markets at the moment

- other chip makers are flat as well in the after hours

- other MAG7 companies are pretty flat as well.

- IMHO the thing that the markets love the most is the forward guidance not the current quarters numbers

1Q revenue guidance exceeds expectations.

1Q gross margin estimate less than expected, 71% (non-GAAP).

Good growth but slowing down slightly.