NVIDIA just announced the second quarter results of the company's fiscal 2018. It was another great quarter for NVIDIA as the company registered a record revenue of $2.23 billion, up 56 percent year-over-year. Earnings came in at $583 million, up 123 percent year-over-year.
The massaged non-GAAP figures indicate diluted earnings per share of $1.01 this quarter, up 91 percent versus the same period a year earlier. The results compare very favorably to Wall Street analyst estimates, revenue was $270 million higher than expected and the earnings per share beat by 31 cents.
The higher revenue was primarily driven by more sales of gaming GPUs as well as higher OEM & IP sales. The datacenter and automotive segments, on the other hand, saw very little sequential growth. Presumably, that's part of the reason why NVIDIA's shares are currently down 4.87 percent in after-hours trading.
For the current quarter, NVIDIA expects record revenue of $2.35 billion, plus or minus two percent.
NVIDIA (NASDAQ: NVDA) today reported record revenue for the second quarter ended July 30, 2017, of $2.23 billion, up 56 percent from $1.43 billion a year earlier, and up 15 percent from $1.94 billion in the previous quarter.
GAAP earnings per diluted share for the quarter were $0.92, up 124 percent from $0.41 a year ago and up 16 percent from $0.79 in the previous quarter. Non-GAAP earnings per diluted share were $1.01, up 91 percent from $0.53 a year earlier and up 19 percent from $0.85 in the previous quarter.
"Adoption of NVIDIA GPU computing is accelerating, driving growth across our businesses," said Jensen Huang, founder and chief executive officer of NVIDIA. "Datacenter revenue increased more than two and a half times. A growing number of car and robot-taxi companies are choosing our DRIVE PX self-driving computing platform. And in Gaming, increasingly the world's most popular form of entertainment, we power the fastest growing platforms - GeForce and Nintendo Switch.
"Nearly every industry and company is awakening to the power of AI. Our new Volta GPU, the most complex processor ever built, delivers a 100-fold speedup for deep learning beyond our best GPU of four years ago. This quarter, we shipped Volta in volume to leading AI customers. This is the era of AI, and the NVIDIA GPU has become its brain. We have incredible opportunities ahead of us," he said.