Categories AlphaGraphs, Earnings, Technology
Whopping $1.8-billion gaming revenue in Q2 fails to impress NVIDIA investors
NVIDIA Corp. (NVDA) Thursday posted a second-quarter revenue of $3.12 billion, with Gaming revenue contributing as much as $1.805 billion to the topline. Earnings were $1.76 a share, up 91% from a year ago. The quarterly results beat Street estimates of $1.66 per share on a revenue-estimate of $3.11 billion. With this, Nvidia earnings beat estimates for all the last five quarters.
However, shares tumbled as low as $240.92, down 7% from market close – with the company’s estimate of third-quarter revenues failing to instill confidence in investors.
The chipset giant now sees third-quarter revenue of $3.25 billion (± 2%), with a gross margin of 62.6%.
The quarterly revenue was up 40% from last year, while gross margin surged 490 bps higher to 63.3%. Net income soared 89% to $1.1 billion. Gaming revenue – NVIDIA’s main segment – for the quarter jumped 52% from a year ago to $1.80 billion.
During the first half of the fiscal year, the tech gaint returned $837 million to shareholders in a combo of share repurchases ($655 million) and $182 million in cash dividends. For the fiscal 2019, NVIDIA looks to return $1.25 billion to investors. Nvidia is set to pay its next quarterly cash dividend of $0.15 per share on the 21st of September, 2018, to shareholders on record as of August 30, 2018.
RELATED: AMD defies crypto blues in Q2
In the first quarter this year, earnings of the Santa Clara, California-based chipmaker had jumped to $1.98 per share aided by broad-based demand growth across all categories.
Shares slid at least 7% aftermarket on unimpressive Q3 revenue estimate of $3.25 billion
NVIDIA’s stock, which witnessed high volatility this week in the run-up to the Q2 earnings, was been trading slightly lower since the market opened on Thursday.
Say hello to the new Turing!
This Monday, CEO Jensen Huang unveiled Turing – NVIDIA’s eighth-generation GPU architecture. He also announced He also introduced the first GPUs based on Turing — the NVIDIA Quadro RTX 8000, Quadro RTX 6000, and Quadro RTX 5000.
“It has to be amazing at today’s applications, but utterly awesome at tomorrow’s,” Huang said about the new offering. Huang ended his keynote of the unveiling, with a demo that was equally impressive.
Most Popular
Earnings Preview: Home Depot’s Q3 report likely to reflect weak consumer demand
The US housing industry has been mostly resilient to headwinds like economic uncertainties so far this year. However, housing activity cooled in recent months as high mortgage rates and inflation
Take-Two Interactive (TTWO) will report Q2 2025 earnings this week, a few points to note
Shares of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) stayed red on Monday. The stock has gained 16% over the past three months. The gaming company is set to report its second
Earnings Summary: Highlights of Loews Corporation’s (L) Q3 2024 report
Loews Corporation (NYSE: L), a diversified company with businesses in the insurance, energy, hospitality, and packaging industries, on Monday reported higher revenue and profit for the third quarter of 2024.