UBS Sees Nvidia Q1 Revenue Slightly Above Guidance, EPS Hurt by H20 Ban

UBS analysts expect Nvidia (NASDAQ:NVDA) to post $44 billion in April-quarter revenue—just above its $43 billion guide—potentially easing investor worries over near-term growth amid regulatory and supply-chain headwinds. However, adjusted EPS of $0.76 is forecast to miss the Street's $0.89 consensus, primarily due to margin charges from the U.S. export ban on H20 GPUs.

Key UBS Forecasts

• Revenue: $44 billion vs. $43 billion guide

• Adjusted EPS: $0.76 vs. $0.89 consensus

• Q2 Guidance (July Quarter): $44.6 billion vs. $46.5 billion Street estimate

UBS maintains a Buy rating but trims its 12-month price target from $180 to $175, reflecting a lowered fiscal 2026 EPS forecast of $4.22 (down from $4.86) as gross-margin impacts persist.

Supply-Chain & Regulatory Headwinds

• H20 Ban Charges: Restrictions on U.S. GPU exports are expected to dent margins more than initially anticipated.

• Blackwell Ramp: New Blackwell GB300 shipments should boost data-center growth in H2, though delays and limited inventory repurposing cap upside near term.

Tracking Upcoming Earnings

Nvidia's Q1 report and call are slated for early May—you can confirm the exact date in real time via the Earnings Calendar API. Watching management's guidance on H20 mitigation and Blackwell rollouts will be critical for gauging the stock's next move.

Analyst Price-Target Trends

To stay on top of how other brokerages adjust their Nvidia targets post-earnings, check the Price Target Summary API, which aggregates real-time target revisions and recommendation shifts:
Monitor Nvidia Price Targets

By combining UBS's tempered guidance with live earnings dates and price-target updates, investors can navigate Nvidia's hurdles—and position for the powerful data-center thesis once margin headwinds subside.