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Jul 30, 2023
NVIDIA Q2 2024 Earnings Report
Reported record revenue, driven by Data Center growth and strong performance in Gaming and Professional Visualization.
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
NVIDIA Revenue by Segment
Revenue by Segment
Data Center Revenue
CapyFin.comGaming Revenue
CapyFin.comPro Visualization Revenue
CapyFin.comAutomotive Revenue
CapyFin.com 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income