Nvidia Q1 Highlights: China Export Ban Hits Results But Jensen Huang Says Demand 'Incredibly Strong'
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Nvidia reported Q1 revenue of $44.1 billion, a 69% year-over-year increase, exceeding estimates. Adjusted earnings were 81 cents per share, impacted by a $4.5 billion charge due to an export ban on H20 products to China. The company anticipates Q2 revenue of $45 billion, factoring in an $8 billion loss from export controls. CEO Jensen Huang noted strong demand for AI infrastructure, highlighting the significance of AI in global infrastructure. Nvidia stock rose 2.7% to $138.25 in after-hours trading.
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