NVIDIA Reports Record Revenue Despite Export Licensing Issues

Santa Clara, California — NVIDIA Corporation (NASDAQ: NVDA) announced today that its revenue for the first quarter ending April 27, 2025, reached $44.1 billion, marking a 12% increase from the previous quarter and a remarkable 69% growth year-over-year.

The significant growth comes despite challenges with U.S. government licensing requirements affecting the export of its H20 products to China. This new regulation led NVIDIA to incur a $4.5 billion charge related to H20 excess inventory and purchase obligations during the quarter.

NVIDIA generated $4.6 billion in sales from H20 products before the licensing news but faced a loss of an additional $2.5 billion in H20 revenue due to the export restrictions. “Our breakthrough Blackwell NVL72 AI supercomputer is now in full-scale production,” said NVIDIA’s founder and CEO, Jensen Huang. He emphasized the growing global demand for AI infrastructure, stating, “AI inference token generation has surged tenfold in just one year.”

The company reported GAAP gross margins of 60.5%, while the non-GAAP gross margin was slightly higher at 61.0%. Excluding the H20 charge, first-quarter non-GAAP gross margin would have reached 71.3%. NVIDIA’s GAAP earnings per diluted share stood at $0.76, compared to $0.81 for non-GAAP.

<pDespite the financial setbacks, NVIDIA remains optimistic about its outlook. It announced a quarterly cash dividend of $0.01 per share, payable on July 3, 2025, to shareholders of record on June 11, 2025. Huang concluded by reinforcing NVIDIA's leading role in the AI landscape, which is being recognized as essential infrastructure worldwide.