NVIDIA Sees Growth in all Four Segments as Q2 Earnings, Q3 Forecast Beat Estimates

nvidia-nvda-logoGraphics card maker NVIDIA Corporation (NASDAQ:NVDA) posted better-than-expected Q2 results after the bell today and provided an upbeat forecast, as its new Pascal-based GPUs and deep learning products are seeing big demand.

The Santa Clara, CA-based company reported adjusted Q2 EPS of $0.53, beating Wall Street’s view for $0.48. Revenue jumped 23.9% from last year to $1.43 billion, also beating estimates.

Looking ahead, NVDA issued Q3 guidance in the range of $1.65 to $1.71 billion, which would easily beat analysts’ view of $1.45 billion for the current quarter.

Other notes from the report included:

  • Q2 adjusted gross margin was 58.1%.
  • Q3 adjusted gross margin forecast is 57.5% to 58.5%.
  • Q2 revenue of $1.43 billion was a company record.
  • Next dividend of $0.115 per share is payable on September 16, 2016, to with a record date of August 25, 2016.
  • Company saw growth across all platforms: Gaming, Professional Visualization, Datacenter, and Automotive.

From the press release:

“Strong demand for our new Pascal-generation GPUs and surging interest in deep learning drove record results,” said Jen-Hsun Huang, co-founder and chief executive officer, NVIDIA. “Our strategy to focus on creating the future where graphics, computer vision and artificial intelligence converge is fueling growth across our specialized platforms — Gaming, Pro Visualization, Datacenter and Automotive.” “We are more excited than ever about the impact of deep learning and AI, which will touch every industry and market. We have made significant investments over the past five years to evolve our entire GPU computing stack for deep learning. Now, we are well positioned to partner with researchers and developers all over the world to democratize this powerful technology and invent its future.”

NVIDIA shares rose $1.45 (+2.43%) to $61.15 in aftermarket trading today. Prior to the report, NVDA had already gained 81% year-to-date.


You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Powered by WPeMatico