On August 28, 2024, NVIDIA Corporation reported its financial results for the second quarter ended July 28, 2024. The company announced a record quarterly revenue of $30.0 billion, which is a 15% increase from the previous quarter and a 122% increase from the same period a year ago. Data Center revenue also reached a record $26.3 billion, marking a 16% increase from the previous quarter and a 154% increase year-over-year. GAAP earnings per diluted share were $0.67, up 12% from the previous quarter and up 168% from the previous year. Non-GAAP earnings per diluted share were $0.68, an 11% increase from the previous quarter and a 152% increase year-over-year. NVIDIA's CEO, Jensen Huang, highlighted the strong demand for the Hopper architecture and the high anticipation for the upcoming Blackwell architecture...Show More

On August 28, 2024, NVIDIA Corporation reported its financial results for the second quarter ended July 28, 2024. The company announced a record quarterly revenue of $30.0 billion, which is a 15% increase from the previous quarter and a 122% increase from the same period a year ago. Data Center revenue also reached a record $26.3 billion, marking a 16% increase from the previous quarter and a 154% increase year-over-year. GAAP earnings per diluted share were $0.67, up 12% from the previous quarter and up 168% from the previous year. Non-GAAP earnings per diluted share were $0.68, an 11% increase from the previous quarter and a 152% increase year-over-year. NVIDIA's CEO, Jensen Huang, highlighted the strong demand for the Hopper architecture and the high anticipation for the upcoming Blackwell architecture. The company also announced a $50.0 billion increase in share repurchase authorization and plans to pay a quarterly cash dividend of $0.01 per share on October 3, 2024. Looking ahead, NVIDIA expects third-quarter revenue to be around $32.5 billion, with GAAP and non-GAAP gross margins projected to be 74.4% and 75.0%, respectively. The full-year gross margins are expected to be in the mid-70% range, with operating expenses growing in the mid- to upper-40% range.