Revenues for the quarter reached USD 2.220 billion, down 31 percent from the year before but up 1 percent sequentially. The gross margin declined to 58.4 percent from 64.5 percent the year earlier. Higher operating expenses weighed on the operating profit, which sank 72 percent year-on-year to USD 358 million. The net profit fell 68 percent to USD 394 million, with diluted earnings per share going to USD 0.64 from 1.98. Of the USD 3 billion it plans to return to shareholders by the end of its fiscal 2020, Nvidia gave back USD 97 million during the quarter, in cash dividends.
For the second quarter of the company’s fiscal 2020, the company is guiding for higher results sequentially. Revenues are seen at USD 2.55, plus or minus 2 percent, and the gross margin at 59.2 percent.
