Nvidia posts healthy revenue, earnings growth
Things are still looking up for Nvidia. The company has posted results for its fiscal second quarter, showing double-digit growth in both revenue and net income compared to the same quarter last year. Revenue went up 13% to $1.103 billion, and net income rose 33% to $128 million. Here are the full numbers. (As always remember that Nvidia's fiscal year is ahead of the calendar year.)
According to CEO Jen-Hsun Huang, the results can be attributed to "strong gains" in all three of the company's "growth areas": gaming, mobile, and datacenter and cloud. Huang added:
Our Tesla datacenter business is in high gear, benefiting from strong demand from cloud service providers, and our new SHIELD tablet is generating considerable excitement. NVIDIA's accelerating growth stems directly from investments in extending our visual computing leadership to the mobile-cloud revolution.
For the ongoing quarter, Nvidia expects revenue of $1.20 billion, give or take 2%, with a gross margin of 55.2%, give or take half a percentage point. Those results would potentially be up from last year's, when Nvidia posted $1.054 billion revenue and a 55.4% gross margin, but also mostly flat compared to two years ago, when the company's fiscal Q3 revenue and gross margin were $1.2 billlion and 52.9%, respectively.