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.
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.
Leading stock indexes retreated after gaining mid-week when Wall Street biggies like Apple and Amazon reported impressive quarterly numbers. The Dow Jones Industrial Average was down 190 early Friday, while
The airlines sector was severely impacted by the disruption caused by the COVID-19 pandemic in 2020. A year later, the industry is still limping its way to a recovery. In
The company that witnessed the strongest growth during the pandemic is probably Amazon.com, Inc. (NASDAQ: AMZN), which went into overdrive when the crisis triggered an online shopping boom. Taking a