<p><img src="https://imageproxy.pbkrs.com/https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png"/></p>
<h2>早餐新闻：聚焦英伟达第一季度</h2>
<p>###2025 年 5 月 28 日</p>
<table>
<thead>
<tr>
<th>周二市场</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>标准普尔 500</strong><br/>5,922  (+2.05%)</td>
</tr>
<tr>
<td><strong>纳斯达克</strong><br/>19,199 (+2.47%)</td>
</tr>
<tr>
<td><strong>道琼斯</strong><br/>42,344 (+1.78%)</td>
</tr>
<tr>
<td><strong>比特币</strong><br/>$109,872 (+0.61%)</td>
</tr>
</tbody>
</table>
<p><img src="https://imageproxy.pbkrs.com/https://braze-images.com/appboy/communication/assets/image_assets/images/6836e5ac3bde5a0065b53b0a/original.png/query-MTc0ODQyODIwNA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://braze-images.com/appboy/communication/assets/image_assets/images/6836e5ac3bde5a0065b53b0a/original.png/query-MTc0ODQyODIwNA"/></p>
<p>来源：Jester AI 创建的图像。</p>
<h2>1. 英伟达财报的期待升温</h2>
<p>备受期待的 <strong>英伟达</strong>(NVDA 3.07%) 第一季度财报将在今天收盘后发布，新的乐观情绪消除了该股因早期贸易战担忧而造成的 2025 年损失。根据彭博社的报道，美国收入预计将增长 60%，达到 216 亿美元，总收入将达到 433 亿美元。</p>
<ul>
<li><strong>&#34;在过去 12 个月内，H20 收入将受到 150 亿美元的影响&#34;：</strong> <strong>BNP Paribas</strong> 的 David O'Connor 提到美国政府对英伟达 H20 芯片出口限制的潜在影响，该公司预计将因此产生 55 亿美元的减记。分析师预计本季度来自中国的收入为 62 亿美元。</li>
<li><strong>&#34;沙特阿拉伯和阿联酋的市场机会可能在未来增加另一个 1 万亿美元&#34;：</strong> Wedbush 分析师 Dan Ives 认为中东将为全球 AI 市场带来巨大推动，沙特阿拉伯计划为其 Humain 项目购买 18,000 个英伟达芯片，而阿联酋计划建立 “美国以外最大的 AI 数据中心”。</li>
</ul>
<h2>2. Okta 因谨慎指引下跌 13%</h2>
<p><strong>Okta</strong>(OKTA 1.54%) 在盘前交易中大幅下跌，管理层在第一季度更新中警告宏观经济不确定性。该公司的净留存率较去年下降了 5 个百分点，但仍为 106%。首席执行官 Todd McKinnon 报告称，客户对关税潜在影响的谨慎态度在增加。</p>
<ul>
<li><strong>收入和收益超出指引：</strong> 收入增长 12%，调整后的每股收益同比增长 32%。这家身份验证专家报告称，年支出至少为 100 万美元的客户数量增长了 20%。</li>
<li><strong>自 2018 年 1 月以来超越标准普尔 500 指数 190%</strong> <strong><em>股票顾问</em></strong> <strong>推荐：</strong> 该公司在经济不确定性面前提到了一种 “谨慎的指引” 方法。但它维持了全年收入在 28.5 亿到 28.6 亿美元之间，收益在 3.23 到 3.28 美元之间的指引——至少目前如此。</li>
</ul>
<h2>3. 接下来：CRM、VEEV、ELF 的下午财报</h2>
<p>分析师预计 <strong>Salesforce</strong>(CRM 1.37%) 第一季度的收入同比增长 6.8%，低于 2024 年第一季度的 10.7%。重点关注该公司的 Agentforce AI 工具，首席执行官 Marc Benioff 认为数字劳动力有 “12 万亿美元的机会”。</p>
<ul>
<li><strong>&#34;所有指标的结果均超出指引&#34;：</strong> <strong>Veeva</strong>(VEEV 2.19%) 首席财务官 Brian Van Wagener 在第四季度财报超出预期后谈到了强劲的 2025 财年。在今天的第一季度财报中，分析师预计收入接近指引的上限，即 7.26 亿到 7.29 亿美元。关注创新和战略合作伙伴关系。</li>
<li><strong>2025 财年展望下调：</strong> <em>Hidden Gems</em> 推荐的 <strong>e.l.f. Beauty</strong>(ELF 9.52%) 将在第三季度收益预期未达标且零增长后发布第四季度财报，并下调了全年指引。结合 31% 的收入增长，这表明股东将关注成本控制，尽管分析师预计本季度不会有任何收益改善。</li>
</ul>
<h2>4. <em>规则破坏者</em>：CRM 的负责任交易</h2>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/misc-assets/tim-beyers-circle.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/misc-assets/tim-beyers-circle.png"/></p>
<p>Tim Beyers</p>
<p>让我们明确一点：我无法告诉你 Salesforce 收购 <strong>Informatica</strong>(NYSE:INFA) 是否会成功。但交易的结构令人宽慰。Salesforce 支付约 80 亿美元现金，或每股 25 美元。这是个好消息。该公司过去只进行现金收购——这在 2020 年以超过 277 亿美元收购 Slack 时似乎发生了变化，当时 Salesforce 使用了数十亿美元的自有股权来资助收购。但在这里并不是如此。再说一次，这很好：Salesforce 在其资产负债表上拥有 140 亿美元的现金和投资，能够支付现金。这对股东也更有利。</p>
<h2>5. 你的看法</h2>
<p>Veeva、e.l.f. Beauty 和 <strong>Pure Storage</strong>(PSTG -0.01%)——今天也将发布财报——在过去几年中都在_股票顾问_中被推荐。</p>
<p>你认为这三家公司中哪一家在未来 5 年内最有可能超越市场，为什么？与朋友和家人讨论，或成为会员，听听你的同伴们的看法。</p>

VEEV

英伟达

<p>英伟达的第一季度财报备受期待，美国收入预计将增长 60%，达到 216 亿美元。分析师预测，由于美国对 H20 芯片的出口限制，将出现 55 亿美元的减值。尽管 Okta 的收入和盈利超出预期，但由于谨慎的指引，其股价下跌了 13%。Salesforce、Veeva 和 e.l.f. Beauty 的财报也即将发布，Salesforce 将重点关注人工智能工具，而 Veeva 预计将取得强劲的业绩。Salesforce 以现金收购 Informatica 被视为对股东的积极举措</p>

<p><img src="https://imageproxy.pbkrs.com/https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png" alt="" original-src="https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png"/></p>
<h2>Breakfast News: Spotlight On Nvidia's Q1</h2>
<div class="lb-trans"><h2>早餐新闻：聚焦英伟达第一季度</h2>
</div><h3>May 28, 2025</h3>
<div class="lb-trans"><p>###2025 年 5 月 28 日</p>
</div><table>
<thead>
<tr>
<th>Tuesday's Markets</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>S&amp;P 500</strong><br/>5,922  (+2.05%)</td>
</tr>
<tr>
<td><strong>Nasdaq</strong><br/>19,199 (+2.47%)</td>
</tr>
<tr>
<td><strong>Dow</strong><br/>42,344 (+1.78%)</td>
</tr>
<tr>
<td><strong>Bitcoin</strong><br/>$109,872 (+0.61%)</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th>周二市场</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>标准普尔 500</strong><br/>5,922  (+2.05%)</td>
</tr>
<tr>
<td><strong>纳斯达克</strong><br/>19,199 (+2.47%)</td>
</tr>
<tr>
<td><strong>道琼斯</strong><br/>42,344 (+1.78%)</td>
</tr>
<tr>
<td><strong>比特币</strong><br/>$109,872 (+0.61%)</td>
</tr>
</tbody>
</table>
</div><p><img src="https://imageproxy.pbkrs.com/https://braze-images.com/appboy/communication/assets/image_assets/images/6836e5ac3bde5a0065b53b0a/original.png/query-MTc0ODQyODIwNA" alt="" original-src="https://braze-images.com/appboy/communication/assets/image_assets/images/6836e5ac3bde5a0065b53b0a/original.png?1748428204"/></p>
<p>Source: Image created by Jester AI.</p>
<div class="lb-trans"><p>来源：Jester AI 创建的图像。</p>
</div><h2>1. Nvidia Earnings Excitement Builds</h2>
<div class="lb-trans"><h2>1. 英伟达财报的期待升温</h2>
</div><p>The highly anticipated first-quarter report from <strong>Nvidia</strong>(NVDA 3.07%) will arrive after today's closing bell, with new optimism erasing the stock's 2025 loss on earlier trade war fears. According to Bloomberg, U.S. revenue is predicted to rise 60% to $21.6 billion, with total revenue reaching $43.3 billion.</p>
<div class="lb-trans"><p>备受期待的 <strong>英伟达</strong>(NVDA 3.07%) 第一季度财报将在今天收盘后发布，新的乐观情绪消除了该股因早期贸易战担忧而造成的 2025 年损失。根据彭博社的报道，美国收入预计将增长 60%，达到 216 亿美元，总收入将达到 433 亿美元。</p>
</div><ul>
<li><strong>&#34;$15 billion H20 revenue hit on a rolling 12-month basis&#34;:</strong> David O'Connor at <strong>BNP Paribas</strong> wrote of the potential impact of U.S. government restrictions on the export of Nvidia's H20 chips, as the company expects a resulting $5.5 billion writedown. Analysts expect $6.2 billion revenue from China this quarter.</li>
<li><strong>&#34;The market opportunity in Saudi Arabia and UAE alone could over time add another $1 trillion&#34;:</strong> Wedbush analyst Dan Ives sees a big boost to the global AI market from the Middle East, with Saudi Arabia set to buy 18,000 Nvidia chips for its Humain project, while the UAE plans to build &#34;the largest AI data center outside the U.S.&#34;</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>&#34;在过去 12 个月内，H20 收入将受到 150 亿美元的影响&#34;：</strong> <strong>BNP Paribas</strong> 的 David O'Connor 提到美国政府对英伟达 H20 芯片出口限制的潜在影响，该公司预计将因此产生 55 亿美元的减记。分析师预计本季度来自中国的收入为 62 亿美元。</li>
<li><strong>&#34;沙特阿拉伯和阿联酋的市场机会可能在未来增加另一个 1 万亿美元&#34;：</strong> Wedbush 分析师 Dan Ives 认为中东将为全球 AI 市场带来巨大推动，沙特阿拉伯计划为其 Humain 项目购买 18,000 个英伟达芯片，而阿联酋计划建立 “美国以外最大的 AI 数据中心”。</li>
</ul>
</div><h2>2. Okta Falls 13% on Cautious Guidance</h2>
<div class="lb-trans"><h2>2. Okta 因谨慎指引下跌 13%</h2>
</div><p><strong>Okta</strong>(OKTA 1.54%) plunged in pre-market trading, after management warned of macroeconomic uncertainty in a Q1 update. The company saw its net retention rate drop by 5 percentage points from a year ago, but still at 106%. CEO Todd McKinnon reported increasing caution from customers facing the potential impact of tariffs.</p>
<div class="lb-trans"><p><strong>Okta</strong>(OKTA 1.54%) 在盘前交易中大幅下跌，管理层在第一季度更新中警告宏观经济不确定性。该公司的净留存率较去年下降了 5 个百分点，但仍为 106%。首席执行官 Todd McKinnon 报告称，客户对关税潜在影响的谨慎态度在增加。</p>
</div><ul>
<li><strong>Revenue and earnings beat guidance:</strong> Revenue grew by 12% with adjusted earnings per share up 32% over the same quarter last year. The identity verification specialist reported a 20% rise in customers spending at least $1 million annually.</li>
<li><strong>Beating the S&amp;P 500 by 190% since January 2018</strong> <strong><em>Stock Advisor</em></strong> <strong>recommendation:</strong> The company spoke of a &#34;prudent approach&#34; to guidance in the face of economic uncertainty. But it maintained full-year guidance of revenue between $2.85 billion and $2.86 billion and earnings between $3.23 and $3.28 – at least for now.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>收入和收益超出指引：</strong> 收入增长 12%，调整后的每股收益同比增长 32%。这家身份验证专家报告称，年支出至少为 100 万美元的客户数量增长了 20%。</li>
<li><strong>自 2018 年 1 月以来超越标准普尔 500 指数 190%</strong> <strong><em>股票顾问</em></strong> <strong>推荐：</strong> 该公司在经济不确定性面前提到了一种 “谨慎的指引” 方法。但它维持了全年收入在 28.5 亿到 28.6 亿美元之间，收益在 3.23 到 3.28 美元之间的指引——至少目前如此。</li>
</ul>
</div><h2>3. Next Up: Afternoon Earnings from CRM, VEEV, ELF</h2>
<div class="lb-trans"><h2>3. 接下来：CRM、VEEV、ELF 的下午财报</h2>
</div><p>Analysts expect a 6.8% revenue rise year over year from <strong>Salesforce</strong>'s (CRM 1.37%) Q1 results later, down from 10.7% in Q1 2024. Focus is on the company's Agentforce AI tools, as CEO Marc Benioff sees a &#34;$12 trillion opportunity&#34; in digital labor.</p>
<div class="lb-trans"><p>分析师预计 <strong>Salesforce</strong>(CRM 1.37%) 第一季度的收入同比增长 6.8%，低于 2024 年第一季度的 10.7%。重点关注该公司的 Agentforce AI 工具，首席执行官 Marc Benioff 认为数字劳动力有 “12 万亿美元的机会”。</p>
</div><ul>
<li><strong>&#34;Results ahead of guidance for all metrics&#34;:</strong> <strong>Veeva</strong>(VEEV 2.19%) CFO Brian Van Wagener spoke of a strong fiscal 2025 after a Q4 earnings beat. In today's Q1 results, analysts expect revenue near the top end of guidance of $726 million to $729 million. Watch for innovation and strategic partnerships.</li>
<li><strong>Fiscal 2025 outlook cut:</strong> <em>Hidden Gems</em> rec <strong>e.l.f. Beauty</strong>(ELF 9.52%) will report Q4 after missing Q3 earnings expectations with zero growth and lowering FY guidance. Combined with 31% revenue growth, it suggests shareholders will be watching for cost control, though analysts don't expect any earnings improvement this quarter.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>&#34;所有指标的结果均超出指引&#34;：</strong> <strong>Veeva</strong>(VEEV 2.19%) 首席财务官 Brian Van Wagener 在第四季度财报超出预期后谈到了强劲的 2025 财年。在今天的第一季度财报中，分析师预计收入接近指引的上限，即 7.26 亿到 7.29 亿美元。关注创新和战略合作伙伴关系。</li>
<li><strong>2025 财年展望下调：</strong> <em>Hidden Gems</em> 推荐的 <strong>e.l.f. Beauty</strong>(ELF 9.52%) 将在第三季度收益预期未达标且零增长后发布第四季度财报，并下调了全年指引。结合 31% 的收入增长，这表明股东将关注成本控制，尽管分析师预计本季度不会有任何收益改善。</li>
</ul>
</div><h2>4. <em>Rule Breakers</em>: CRM's Responsible Deal</h2>
<div class="lb-trans"><h2>4. <em>规则破坏者</em>：CRM 的负责任交易</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/misc-assets/tim-beyers-circle.png" alt="" original-src="https://g.foolcdn.com/misc-assets/tim-beyers-circle.png"/></p>
<p>Tim Beyers</p>
<div class="lb-trans"><p>Tim Beyers</p>
</div><p>Let's be clear: I can't tell you whether Salesforce acquiring <strong>Informatica</strong>(NYSE:INFA) will work out. But the structure of the deal is a relief. Salesforce is paying about $8 billion in cash, or $25 a share. That's good news. The company used to make <em>only</em> cash acquisitions – that appeared to change with the $27.7+ billion purchase of Slack from 2020, in which Salesforce used billions of its own equity to fund the acquisition. Not here, though. And again, that's good: Salesforce has $14 billion in cash and investments on its balance sheet and can afford to pay cash. It's also better for shareholders.</p>
<div class="lb-trans"><p>让我们明确一点：我无法告诉你 Salesforce 收购 <strong>Informatica</strong>(NYSE:INFA) 是否会成功。但交易的结构令人宽慰。Salesforce 支付约 80 亿美元现金，或每股 25 美元。这是个好消息。该公司过去只进行现金收购——这在 2020 年以超过 277 亿美元收购 Slack 时似乎发生了变化，当时 Salesforce 使用了数十亿美元的自有股权来资助收购。但在这里并不是如此。再说一次，这很好：Salesforce 在其资产负债表上拥有 140 亿美元的现金和投资，能够支付现金。这对股东也更有利。</p>
</div><h2>5. Your Take</h2>
<div class="lb-trans"><h2>5. 你的看法</h2>
</div><p>Veeva, e.l.f. Beauty, and <strong>Pure Storage</strong>(PSTG -0.01%) – also reporting today – have all been recommended in <em>Stock Advisor</em> over the past few years.</p>
<div class="lb-trans"><p>Veeva、e.l.f. Beauty 和 <strong>Pure Storage</strong>(PSTG -0.01%)——今天也将发布财报——在过去几年中都在_股票顾问_中被推荐。</p>
</div><p>Which of the three do you think has the best chance of beating the market over the next 5 years, and why? Debate with friends and family, or become a member to hear what your fellow Fools are saying.</p>
<div class="lb-trans"><p>你认为这三家公司中哪一家在未来 5 年内最有可能超越市场，为什么？与朋友和家人讨论，或成为会员，听听你的同伴们的看法。</p>
</div>

Breakfast News: Spotlight On Nvidia's Q1

- Nvidia 预计 Q1 营收将增长 60%，达到 216 亿美元，总收入 43.3 亿美元。  
- Okta 因宏观经济不确定性下调指引，股价下跌 13%。  
- Salesforce 和 Veeva 将发布财报，关注其 AI 工具和创新战略。  

早餐新闻：聚焦 NVIDIA 第一季度业绩