Nvidia beats on revenue and earnings, announces 10-for-1 stock split

CNBC Television

22 May 202401:09

Summary

TLDRNVIDIA reported a Q1 revenue beat of $26.04 billion, exceeding estimates and matching the whisper number. The data center segment also outperformed with $22.6 billion, driven by strong and accelerating demand. The company highlighted the next industrial revolution as a key growth area. Additionally, NVIDIA announced a 10-for-1 stock split to increase accessibility for employees and investors, set to take effect on June 6th through an amendment.

Takeaways

📈 The company reported Q1 revenues of $26.04 billion, exceeding estimates and matching the whisper number of $26 billion.
💻 Data center revenue was a standout, with a beat of $22.6 billion, higher than anticipated.
🔧 The script mentions the 'Next Industrial Revolution', indicating a focus on growth driven by strong and accelerating demand.
📉 While the script does not provide specific numbers, it suggests that both the top and bottom lines are of interest and may have implications for the company's performance.
🔄 A 10-for-1 stock split of common stock is announced, aimed at making ownership more accessible to employees and investors.
📅 The stock split will be effective through an amendment to NVIDIA, with the split to be implemented on June 6.
📊 The split details will be finalized with the close on Thursday, June 6, suggesting a significant date for shareholders and investors.
📈 The stock split could potentially boost the stock's liquidity and attractiveness to a broader range of investors.
🤔 The mention of a stock split may indicate the company's confidence in its growth and future prospects.
📝 The transcript hints at further discussion and details to come, suggesting that investors should stay tuned for more information.

Q & A

What was the reported revenue for Q1?
-The reported revenue for Q1 was $26.04 billion.
Did the Q1 revenue meet or exceed the estimates?
-Yes, the Q1 revenue was stronger than the estimates and matched the whisper number at $26 billion.
What was the performance of the data center revenue in comparison to expectations?
-The data center revenue beat expectations, coming in at $22.6 billion.
What is the term used to describe the ongoing industrial revolution as mentioned in the script?
-The term used is 'The Next Industrial Revolution'.
What is fueling the growth mentioned in the script?
-The growth is being fueled by strong and accelerating demand.
What significant announcement was made regarding stock ownership?
-A 10 for 1 four stock split of common stock was announced to make ownership more accessible to employees and investors.
When will the stock split be effective?
-The stock split will be effective through an amendment to NVIDIA and to scan through on June 6.
What is the significance of the stock split for investors?
-The stock split makes the stock more accessible and affordable for a broader range of investors and employees.
How will the stock split impact the number of shares and their value?
-The stock split will increase the number of shares by a factor of 10, and each share's value will be reduced proportionally.
What is the closing date for the stock split to take effect?
-The closing date for the stock split to take effect is Thursday, June 6.
What does the term 'whisper number' refer to in the context of financial reporting?
-The 'whisper number' refers to an unofficial and unconfirmed estimate of a company's earnings or revenue, often circulated by traders and analysts.