Blow out the lights
It’s important to put NVIDIA’s last two quarters into context. When the company reported its April quarter, it guided July revenue up 50% from the Street. Ultimately they exceeded those revenue expectations by 20%. I put that guidance and results in the top decile of tech company earnings I’ve tracked. On top of that, the company guided October revenue up 28% higher than the Street.
That guidance would have been even higher if not for production constructions, largely at TSMC. The impact of production constraints is unclear, but the company did emphasize that backlog gives them visibility into CY24. I estimate guidance would have been 10 to 20% higher if not for the bottleneck.