NVIDIA Q2 2024 Earnings Report
Key Takeaways
NVIDIA reported record revenue of $13.51 billion for Q2 Fiscal 2024, a 101% increase year-over-year, driven by record Data Center revenue. GAAP earnings per diluted share were $2.48, up 854% year-over-year, and non-GAAP earnings per diluted share were $2.70, up 429% year-over-year.
Record revenue of $13.51 billion, up 101% year-over-year.
Record Data Center revenue of $10.32 billion, up 171% year-over-year.
GAAP earnings per diluted share of $2.48, up 854% year-over-year.
Non-GAAP earnings per diluted share of $2.70, up 429% year-over-year.
NVIDIA
NVIDIA
Forward Guidance
NVIDIA's outlook for the third quarter of fiscal 2024 includes revenue of $16.00 billion, plus or minus 2%. GAAP and non-GAAP gross margins are expected to be 71.5% and 72.5%, respectively, plus or minus 50 basis points. GAAP and non-GAAP operating expenses are expected to be approximately $2.95 billion and $2.00 billion, respectively.
Positive Outlook
- Revenue is expected to be $16.00 billion, plus or minus 2%.
- GAAP gross margin is expected to be 71.5%, plus or minus 50 basis points.
- Non-GAAP gross margin is expected to be 72.5%, plus or minus 50 basis points.
- GAAP other income and expense are expected to be an income of approximately $100 million.
- Non-GAAP other income and expense are expected to be an income of approximately $100 million.
Challenges Ahead
- GAAP operating expenses are expected to be approximately $2.95 billion.
- Non-GAAP operating expenses are expected to be approximately $2.00 billion.
- GAAP tax rates are expected to be 14.5%, plus or minus 1%, excluding any discrete items.
- Non-GAAP tax rates are expected to be 14.5%, plus or minus 1%, excluding any discrete items.