NVIDIA Corporation Q4 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Q4 revenue: $3.11 billion, up 41% year-over-year and up 3% sequentially, exceeding company outlook.
  • Full-year revenue: $10.9 billion, down 7% from the prior fiscal year.
  • Strong momentum exiting FY2020 driven by data center and gaming demand.
  • Q4 GAAP EPS: $1.53, up 66% year-over-year; non-GAAP EPS: $1.89, up 136% year-over-year.
  • Q4 cash from operations: $1.46 billion; FY2020 operating cash flow: record $4.76 billion.

Business Segment Highlights

Gaming

  • Q4 revenue: $1.49 billion, up 56% year-over-year but down 10% sequentially.
  • Full-year revenue: $5.52 billion, down 12% year-over-year due to channel inventory corrections earlier in FY2020.
  • Strong global demand driven by RTX GPU adoption, new game releases (e.g., Call of Duty: Modern Warfare), and esports growth.
  • Gaming laptops: Double-digit year-on-year growth for the eighth consecutive quarter; retailers stocked 125 laptop models over the holidays vs. 94 prior year.
  • GeForce NOW cloud gaming service launched with freemium model; partnership with Tencent for China cloud gaming.
  • RTX GPUs hit broader mainstream adoption with pricing down to $299.

Data Center

  • Q4 revenue: Record $968 million, up 43% year-over-year and up 33% sequentially.
  • Full-year revenue: $2.98 billion, up 2% year-over-year.

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Operator: Good afternoon. My name is Christina and I'm your conference operator today. Welcome to NVIDIA's financial results conference call. All lines have been placed on mute. After the speakers' remarks, there will be question-and-answer period. [Operator Instructions] Thank you. I'll now turn the call over to Simona Jankowski, Vice President of Investor Relations, to begin your conference. Simona Jankowski: Thank you. Good afternoon, everyone, and welcome to NVIDIA's conference call for the fourth quarter of fiscal 2020. With me on the call today from NVIDIA are Jensen Huang, President and Chief Executive Officer; and Colette Kress, Executive Vice President and Chief Financial Officer. I'd like to remind you that our call is being webcast live on NVIDIA's Investor Relations website. The webcast will be available for replay until the conference call to discuss our financial results for the first quarter of fiscal 2021. The content of today's call is NVIDIA's property. It can't be reproduced or transcribed without our prior written consent. During this call, we may make forward-looking statements based on current expectations. These are subject to a number of significant risks and uncertainties and our actual results may differ materially. For a discussion of factors that could affect our future financial results and business, please refer to the disclosure in today's earnings release, our most recent forms 10-K and 10-Q and the reports that we may file on Form 8-K with the

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