• Nvidia reported a striking 122% increase in revenues, reaching $30 billion for the second quarter.
• Nvidia's CFO, Colette Kress, revealed plans for the upcoming launch of the Blackwell chip in the fourth quarter.
• Despite the high demands of its work environment, Nvidia maintains a low employee turnover rate.

NVIDIA Corp (NASDAQ:NVDA) has made headlines with its outstanding financial results for the second quarter, reporting revenues of $30 billion, a remarkable 122% increase from the same period last year.

This figure not only surpasses the company's previous records but also exceeds Wall Street's expectations of $28.9 billion. The bulk of this revenue growth comes from strong sales of Nvidia's Hopper GPU, which have significantly boosted the company's profitability.

As a result, Nvidia reported a gross profit margin of 75.1% and adjusted earnings per share of $0.68, beating the expected $0.64. However, despite these strong financial results, Nvidia's stock dropped by 6% in after-hours trading.

This decline likely reflects the market's high expectations before the earnings release rather than any issues with the company's performance. Adding to investor interest, Nvidia's CFO, Colette Kress, announced plans to launch the much-anticipated Blackwell chip in the fourth quarter.

The company expects this next-generation chip to bring in several billion dollars in additional revenue, highlighting Nvidia's leadership in the AI chip market. With a dominant 90% market share, Nvidia continues to lead the tech industry's move towards advanced AI infrastructure.

Despite a demanding work environment with late nights and weekend shifts, Nvidia has a low employee turnover rate compared to the broader semiconductor industry.

This is largely due to the significant financial benefits of stock ownership. Since 2019, Nvidia's stock has increased by over 3,000%, turning many employees into millionaires and discouraging them from leaving before their stock grants fully vest.

CEO Jensen Huang has openly stated that achieving exceptional results at Nvidia is challenging, reflecting the company's high-performance culture.

On the technical side, Nvidia's stock shows potential to bounce back despite recent drops. The $100 level could act as a psychological support point, having previously helped the stock recover in early August.

Additionally, the daily 200 simple moving average around $90 adds another solid support layer, indicating limited downside for the stock.

While Nvidia's stock is currently having trouble breaking past the June high of $140, the strong support levels below should prevent major declines and might spark a return of the bullish momentum.

After the closing bell on Wednesday, August 28, the stock closed at $236.17, trading down by 2.0%.

This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.