NVIDIA Recorded revenue of $3.87 billion, up 50% from a year earlier along with Data Center revenue of $1.75 billion, up 167% from a year earlier
Bangalore, NFAPost: NVIDIA reported record revenue for the second quarter ended July 26, 2020, of $3.87 billion, up 50% from $2.58 billion a year earlier, and up 26% from $3.08 billion in the previous quarter.
GAAP earnings per diluted share for the quarter were $0.99, up 10% from $0.90 a year ago, and down 33% from $1.47 in the previous quarter. Non-GAAP earnings per diluted share were $2.18, up 76% from $1.24 a year earlier, and up 21% from $1.80 in the previous quarter.
NVIDIA closed its acquisition of Mellanox Technologies Ltd. on April 27, 2020. Commenting on the company performance, NVIDIA founder and CEO Jensen Huang said the adoption of NVIDIA computing is accelerating, driving record revenue and exceptional growth.
NVIDIA RTX ray tracing
Commenting on the company performance, NVIDIA founder and CEO Jensen Huang said growth in GeForce gaming accelerated as gamers increasingly immerse themselves in realistic virtual worlds created by NVIDIA RTX ray tracing and AI.
“Our new Ampere GPU architecture is sprinting out of the blocks, with the world’s top cloud service providers and server makers moving quickly to offer NVIDIA accelerated computing,” said Commenting on the company performance, NVIDIA founder and CEO Jensen Huang.
NVIDIA founder and CEO Jensen Huang said Mellanox grew sharply, driven by the need for high-speed networking in cloud data centers to scale-out AI services.
“And Mercedes-Benz’s partnership with NVIDIA to power its next-generation fleet of luxury cars — from the computer to the AI software, and from the cloud to the car — is transformative. Despite the pandemic’s impact on our professional visualization and automotive platforms, we are well-positioned to grow, as gaming, AI, cloud computing and autonomous machines drive the next industrial revolution around the world,” NVIDIA founder and CEO Jensen Huang.
Dividend assurance
NVIDIA paid $99 million in quarterly cash dividends in the second quarter. It will pay its next quarterly cash dividend of $0.16 per share on September 24, 2020, to all shareholders of record on September 2, 2020.
NVIDIA’s outlook for the third quarter of fiscal 2021 is as follows:
· Revenue is expected to be $4.40 billion, plus or minus 2%.
· GAAP and non-GAAP gross margins are expected to be 62.5% and 65.5%, respectively, plus or minus 50 basis points.
· GAAP and non-GAAP operating expenses are expected to be approximately $1.54 billion and $1.09 billion, respectively.
· GAAP and non-GAAP other income and expense are both expected to be an expense of approximately $55 million.
· GAAP and non-GAAP tax rates are both expected to be 8%, plus or minus 1%, excluding any discrete items. GAAP discrete items include excess tax benefits or deficiencies related to stock-based compensation, which are expected to generate variability on a quarter by quarter basis
NVIDIA’s invention of the GPU in 1999 sparked the growth of the PC gaming market, redefined modern computer graphics and revolutionized parallel computing.
More recently, GPU deep learning ignited modern AI ― the next era of computing ― with the GPU acting as the brain of computers, robots and self-driving cars that can perceive and understand the world.
