NVIDIA Earnings, Revenue Beat in Q2

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Investing.com – Nvidia (NASDAQ:NVDA) on Wednesday reported second-quarter earnings and revenue that topped expectations, led by growth in its data center division.

NVIDIA shares gained 0.83% in after-hours trade following the report.

NVIDIA announced earnings per share of $2.18 on revenue of $3.87B. Analysts polled by Investing.com anticipated EPS of $1.98 on revenue of $3.65B.

NVIDIA shares are up 106% from the beginning of the year, still down 2.75% from its 52 week high of $499.70 set on August 18. They are outperforming the S&P 500 which is up 4.51% from the start of the year.

The data center business grew 167% to a record $1.75 billion for the quarter year-on-year, helped by the contribution of Mellanox (NASDAQ:MLNX), which was acquired last year and contributed 14% of revenue.

Its gaming division generated second-quarter revenue of $1.65 billion, up 24% from the previous quarter and up 26% from a year earlier.

It was the first time ever that the company’s gaming division generated less revenue than the data center business.

Looking ahead, Nvidia guided fiscal third-quarter revenue to rise to $4.40 billion, give or take 2%, with non-GAAP gross margins of 65.5%, plus or minus 50 basis points.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar