Nvidia Soar Above Analysts’ Estimates in Q2 Results

Nvidia Corp. (NVIDA) announced its results for the second quarter of the year in which the California based company registered better results than what analysts were expecting. This made it the second consecutive quarter Nvidia was outperforming analysts’ estimates.

For the second quarter ending June 26, Nvidia generated revenue of $3.87 billion beating the analysts’ estimate of $3.65 billion for the company in the quarter.

Net income increased to $622 million or $0.99 per share in the quarter, this was also on the higher side compared to the $552 million or $0.90 per share the company posted in a similar quarter last year.

On adjusted calculations, Nvidia stock earned $2.18 per share in the quarter bearing the $1.97 per share which had been estimated by Wall Street’s analysts.

The company introduced data center products in the second quarter and even started shipping them. In an earlier interview, the company’s co-founder and CEO Jensen Huang confirmed they had introduced and started shipping the products in the second quarter. He was also optimistic they would scale up in the coming quarters.

We’re going to do a lot more next quarter. We’re going to do a lot more the quarter after that. We’re going ramp up here in the second half, and that’s going give us another boost,” said Huangi.

Nvidia’s data center generated revenue of $1.75 billion also beating the $1.71 billion analysts were expecting.

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