NVIDIA tops Q2 EPS, revenue estimates
NVIDIA topped Street estimates for revenue and adjusted EPS. The company posted $3.87 billion in revenue, beating the estimated $3.66 billion while also reporting an adjusted EPS of $2.18, beating the Street’s estimate of $1.97 EPS. Yahoo Finance’s Jared Blikre joins The Final Round to break down the details.
Video Transcript
SEANA SMITH: We're going to get to some breaking news here after hours. Nvidia is out with its earnings report. Jared Blikre has more on this for us. Jared.
JARED BLIKRE: That's right. We got a beat on both the top and bottom lines here. Stock is off about 8/10 of a percent in after hours trading, but let's go down the numbers. Revenue was a beat, $3.87 billion. The estimate was for a bit lower at $3.66 billion. And second quarter adjusted EPS coming in at $2.18. The estimate was for $1.97. In gross margin coming in exactly as expected at 66%. And they are providing some guidance. They say third quarter revenue is expected to be $4.40 billion plus or minus 2%. That's a bit higher than the estimate of $3.96 billion.
And going down their verticals here, gaming revenue was up 24% from the previous year to $1.65 billion. And then their data center, that's really their moneymaker here, the biggest one, was up $1.75 billion, beating expectations. Up 54% from the previous quarter. And that also includes the Mellanox roll-in, they merged. Those results are reflected in the current quarter. So to sum up, we got beats on both the top and bottom lines, stock is down about 2/3 a percent in the after hours trading here.
SEANA SMITH: Yeah, Jared, it's interesting, that Mellanox acquisition, Nvidia saying that it contributed to 14% of its revenue there. And again, pretty strong quarter for Nvidia, yet shares under a little bit of pressure after hours, of just around a half percent as it bounces around just a little bit.
