Nvidia quadruples year-on-year profits in its FY 2017 second quarter

Nvidia has announced its financial results for the second quarter of its fiscal 2017. The company took in revenue of $1.43 billion, up 24% from a year ago, and its operating income of $317 million this quarter more than triples its profit from a year ago. Here's a quick tabulation of the results:

  Q2 FY 17 Q2 FY 16 Change
Revenue $1.43 billion $1.15 billion up 24%
Operating expenses $509 million $558 million down 9%
Operating income $317 million $76 million up 317%
Net income $253 million $26 million up 873%
Gross margin 57.9% 55% up 2.9%
Diluted EPS $0.40 $0.05 up 700%

Nvidia said that its strong results come from strong demand for its Pascal graphics cards, as well as "surging interest in deep learning." Within just this one quarter, the company introduced the GeForce GTX 1080, the GTX 1070, the GTX 1060, and the Pascal-powered Titan X. The company also took Pascal to graphics professionals with the Quadro P6000 and made waves in the data center with its Tesla P100 compute card.

For its next quarter, Nvidia expects revenue of $1.68 billion, plus or minus two percent, and it expects GAAP gross margin of 57.8%.

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