Question Nvidia 2Q24 Earnings

[Hitman928]

Note: Though NV runs on their own financial calendar, I'm calling it 2Q24 as the nearest regular calendar equivalent.

Full steam ahead:

• Nvidia press release (NASDAQ:NVDA): Q2 Non-GAAP EPS of $0.68 beats by $0.04.
• Revenue of $30.04B (+122.4% Y/Y) beats by $1.31B.
• Record quarterly Data Center revenue of $26.3 billion, up 16% from Q1 and up 154% from a year ago.
• On August 26, 2024, the Board of Directors approved an additional $50.0 billion in share repurchase authorization, without expiration.
• Q3 Outlook: Revenue is expected to be $32.5 billion vs. consensus of $31.75B, plus or minus 2%.
• GAAP and non-GAAP gross margins are expected to be 74.4% and 75.0%, respectively, plus or minus 50 basis points. For the full year, gross margins are expected to be in the mid-70% range.

Nvidia Non-GAAP EPS of $0.68 beats by $0.04, revenue of $30.04B beats by $1.31B

Nvidia beats Q2 earnings expectations with Non-GAAP EPS of $0.68, revenue of $30.04B (+122.4% Y/Y), and shares up 0.55%.

seekingalpha.com

 

[Hitman928]

87.7% of NV's revenue now comes from the data center (basically all AI).

"Second-quarter Gaming revenue was $2.9 billion, up 9% from the previous quarter and up 16% from a year ago."

 

[Ghostsonplanets]

Gaming revenue was up 16% from a year ago and up 9% sequentially. These increases reflect higher sales of our GeForce RTX 40 Series GPUs and game console SOCs. We had solid demand in the second quarter for our gaming GPUs as part of the back-to-school season.

Nintendo buy of T239 silicon finally is reflected on the financials, which means mass production of Switch 2 is coming and subsequently higher impact on Nvidia earnings.

Switch 2 should be ~20M units of T239 for the first calendar year.

 

[DavidC1]

Full steam ahead:

• Nvidia press release (NASDAQ:NVDA): Q2 Non-GAAP EPS of $0.68 beats by $0.04.
• Revenue of $30.04B (+122.4% Y/Y) beats by $1.31B.

Wow, I'd say not too far from Intel's $50 billion annual revenue.

Jensen Huang said long ago that they'll beat Intel in 10 years. I think that was more than 20 years ago. Looks like they beat their goals handidly.