In the second quarter, gaming sales surged 85% to a record $3.06 billion, surpassing last quarter’s previous high mark of $2.76 billion, while analysts surveyed by FactSet had expected Nvidia gaming sales of $2.98 billion. Back in May, Nvidia had forecast revenue between $6.17 billion and $6.43 billion. Revenue soared to a record $6.51 billion, up 68% from $3.87 billion in the year-ago quarter.Īnalysts had estimated adjusted earnings of $1.02 a share on revenue of $6.33 billion. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.04 a share, compared with 55 cents a share in the year-ago period. Nvidia reported second-quarter net income of $2.37 billion, or 94 cents a share, compared with $622 million, or 25 cents a share, in the year-ago period. “And so I would expect that we will see a supply constrained environment for the vast majority of the year, is my guess at the moment.” “Meanwhile, we’re securing pretty significant long-term supply commitments as we expand into all these different market initiatives that we’ve set ourselves up for,” Huang said. “We expect to be able to achieve our company’s growth plans for next year.” “We have enough supply to meet our second-half company growth plans,” said Jensen Huang, Nvidia chief executive, on the call.
“So, our Q3 results don’t have seasonality with them for gaming, and are really about the supply that we believe we can have for Q3,” Kress said. “We do expect gaming to be up slightly on a sequential basis, but remember we are still supply constrained.” “The lion’s share of that sequential revenue increase will be coming from data center,” Kress said. CMPs accounted for revenue of $266 million in the second quarter, and are expected to have minimal gains in the third quarter. On the conference call, the conversation quickly became how much of that outlook was affected by supply constraints.Įxcluding Cryptocurrency Mining Processors, or CMPs, which are intended to divert mining demand away from GPUs made for gamers, Nvidia expects revenue to grow more than $500 million sequentially, said Colette Kress, Nvidia’s chief financial officer, on the call. For the third, or current, quarter, the Santa Clara, Calif.-based chip maker forecast revenue of $6.66 billion to $6.94 billion, while analysts surveyed by FactSet have forecast revenue of $6.57 billion on average.
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