Nvidia delivered strong second quarter financial results on Wednesday driven by gains in its gaming, datacenter and professional visualization units.
Featured
- We're not ready for the impact of generative AI on elections
- This is the $300 Android phone to beat in 2023 - and it even has a stylus
- 5 things I learned while building my smart home
- The best laptops under $1,000: MacBook, Surface Pro, HP models compared
The Santa Clara, Calif.-based company reported Q2 net income of $2.3 billion, or 94 cents per share. Non-GAAP earnings were $1.04 per share on revenue of $6.51 billion, up 68% from a year earlier. Wall Street was expecting to see earnings of $1.02 per share with $6.33 billion in revenue.
Nvidia said GPU business revenue was $3.9 billion, up 87% from the year ago period. Its compute and networking revenue increased 46% to $2.6 billion.
Breaking down business segments, Nvidia said gaming revenue increased 85% from a year ago to 3.06 billion. The company said the increase reflects strong demand for gaming GPUs and game-console SOCs.
Meanwhile, Nvidia's data center revenue increased 35% year over year $2.37 billion. Nvidia said the year-on-year revenue growth was driven primarily by its ramp up of Nvidia Ampere GPU architecture products.
Revenue from Nvidia's professional visualization segment reached $519 million, up 156% from a year ago, with growth led by desktop workstation GPUs. The company's automotive unit revenue came to $152 million.
In terms of guidance, Nvidia expects Q3 revenue of $6.8 billion, plus or minus 2%. Market estimates are for $6.53 billion in revenue.
Tech Earnings
-
SMART Global fiscal Q2 results, outlook top expectations
-
Adobe shares sag as outlook misses expectations
-
Micron stock jumps as fiscal Q2 results, outlook top expectations
-
Oracle shares rebound, fiscal Q4 view tops expectations
-
PagerDuty stock surges as fiscal Q4 revenue, forecast top expectations
-
DocuSign shares plunge, Q1 and year views miss expectations
-
Crowdstrike reports Q4 revenue of $431 million and $1.45 billion for full year
-
Broadcom shares jump as fiscal Q1 results, outlook top expectations