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8/15, 10:22 PM (Source: TeleTrader)
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Nvidia revenue falls 17% YoY to $2.6B in Q2

Nvidia Corporation posted revenue of $2.58 billion in its second quarter of the fiscal 2020, the company revealed on Thursday. The figure increased by 16% from the previous quarter but fell 17% year-on-year. Gaming and data center sectors contributed most to the revenue. Diluted earnings per share came in at $0.90, dropping 49% compared to the same quarter last year while net income fell 50% in the same period and was at $552 million in the second quarter of the fiscal 2020. Operating expenses increased 19% year-on-year to $970 million while operating income declined 51% from the same quarter a year ago to $571 million.

CEO Jensen Huang said: "We achieved sequential growth across our platforms. Real-time ray tracing is the most important graphics innovation in a decade. Adoption has reached a tipping point, with NVIDIA RTX leading the way. NVIDIA accelerated computing momentum continues to build as the industry races to enable the next frontier in artificial intelligence, conversational AI, as well as autonomous systems like self-driving vehicles and delivery robots."

Nvidia shares jumped 5.37% after the bell on Wall Street following the release.

Breaking the News / VP