When Nvidia Corp. (NASDAQ: NVDA) released its fiscal second-quarter report after the markets closed on Thursday, the company said that it had $1.94 in earnings per share (EPS) and $3.12 billion in revenue.
The consensus estimates from Thomson Reuters had called for $1.66 in EPS and revenue of $3.1 billion. The same period of last year reportedly had EPS of $0.92 on $2.23 billion in revenue.
In terms of its segments, the company reported as follows:
- Datacenter revenues grew by 83% year over year to $760 million.
- Gaming revenue grew by 52% to $1.80 billion.
- Professional Visualization revenue grew by 20% to $281 billion.
- Automotive revenue grew 13% to $161 million.
Looking ahead to the fiscal third quarter, the company is calling for $3.25 billion in revenue, give or take 2%, with a gross margin of 62.8%. The consensus estimates are $1.82 in EPS and $3.34 billion in revenue for the quarter.
[nativounit]
On the books, Nvidia cash and cash equivalents totaled $7.94 billion at the end of the quarter, up from $7.11 billion at the end of the previous fiscal year.
Jensen Huang, founder and CEO of Nvidia, commented:
Growth across every platform – AI, Gaming, Professional Visualization, self-driving cars – drove another great quarter. Fueling our growth is the widening gap between demand for computing across every industry and the limits reached by traditional computing. Developers are jumping on the GPU-accelerated computing model that we pioneered for the boost they need.
Shares of Nvidia closed Thursday at $257.44, with a consensus analyst price target of $295.67 and a 52-week range of $157.37 to $269.20. Following the announcement, the stock was down 2.8% at $250.21 in Friday’s premarket trading session.
[recirclink id=486489]
[wallst_email_signup]
Top Gaining Stocks
Top Losing Stocks