"NVIDIA guided Q1 FY2027 revenue to $78.0 billion, plus or minus 2%, implying a range of roughly $76.4 billion to $79.6 billion. The guide cleared analyst expectations decisively. Wall Street had been modeling something in the $76-$77 billion range heading into the print, which means the midpoint of NVIDIA's own guidance beat the Street's midpoint before the quarter even begins."
"The $78 billion guidance explicitly excludes any Data Center compute revenue from China. That is not a footnote. Following $4.5 billion in H20-related charges in Q1 FY2026 and H20 sales described as insignificant by Q3, the guidance baseline is structurally constrained by geopolitics. The China exclusion isn't new - but its persistence as a drag on the total addressable revenue number is a reminder that NVIDIA's ceiling would look even higher in a different regulatory environment."
"Quarterly results tell you where a company has been. Guidance tells you whether the growth engine is still accelerating. For NVIDIA, the critical question entering this report was whether the Blackwell ramp could sustain its compounding trajectory into calendar 2026. The answer: yes - with one significant asterisk."
NVIDIA reported Q4 FY2026 revenue of $68.13 billion and guided Q1 FY2027 revenue to $78.0 billion (±2%), representing $76.4-$79.6 billion range. This guidance exceeded Wall Street's $76-$77 billion expectations, demonstrating management confidence in continued acceleration. The critical metric is forward guidance rather than historical results, as it indicates whether the Blackwell ramp sustains growth momentum. Data Center revenue reached $66.4 billion in Q4 alone. However, guidance explicitly excludes China Data Center compute revenue due to geopolitical restrictions, representing a structural constraint on total addressable market. This China exclusion persists despite previous H20-related charges and insignificant sales, indicating regulatory headwinds continue limiting NVIDIA's ceiling.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]