Overview
- Q1 revenue of $5.02 billion and adjusted EPS of $0.35 missed consensus estimates as deliveries slipped out of the period.
- About $1.5 billion in shipments moved to Q2 after a high-volume customer requested configuration changes to complex GPU racks, executives said.
- Guidance now calls for Q2 sales of $10–$11 billion and at least $36 billion in fiscal-year revenue, though projected EPS for Q2 trails forecasts.
- Gross margin narrowed to roughly 9.3%–9.5%, underscoring pressure from high-volume AI rack wins and initial ramp costs.
- Orders for Nvidia Blackwell Ultra–based GB300 systems exceed $13 billion, while shares fell roughly 8%–10% and several analysts cut price targets.