NVIDIA reported second-quarter revenue of $3.12 billion, a 40-percent year-over-year increase, but down 3 percent versus the previous quarter. Net income came in at $1.1 billion on a GAAP basis, and $1.21 billion on an adjusted basis. Adjusted diluted earnings per share came in at $1.94, up 92 percent year-over-year. The reported figures compare favorable to Wall Street estimates, the revenue was a slight beat while EPS was 9 cents per share better than expected.
NVIDIA shares are down 3.83 percent to $247.57. The reasons seems to be the revenue hit due to the crypto meltdown, as well as the slightly weaker than expected guidance. For the current quarter, NVIDIA anticipates record revenue of $3.25 billion, plus or minus 2 percent.
NVIDIA (NASDAQ: NVDA) today reported revenue for the second quarter ended July 29, 2018, of $3.12 billion, up 40 percent from $2.23 billion a year earlier, and down 3 percent from $3.21 billion in the previous quarter.
GAAP earnings per diluted share for the quarter were $1.76, up 91 percent from $0.92 a year ago and down 11 percent from $1.98 in the previous quarter. Non-GAAP earnings per diluted share were $1.94, up 92 percent from $1.01 a year earlier and down 5 percent from $2.05 in the previous quarter.
“Growth across every platform – AI, Gaming, Professional Visualization, self-driving cars – drove another great quarter,” said Jensen Huang, founder and CEO of NVIDIA. “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.
“We announced Turing this week. Turing is the world’s first ray-tracing GPU and completes the NVIDIA RTX platform, realizing a 40-year dream of the computer graphics industry. Turing is a giant leap forward and the greatest advance for computing since we introduced CUDA over a decade ago.”