Nvidia announces Q2 financial results

SAN FRANCISCO, Aug. 28 (Xinhua) — Nvidia on Wednesday reported revenue of 30 billion U.S. dollars for the second quarter ended July 28, 2024, marking a 15-percent increase from the previous quarter and a 122-percent rise compared to the same period last year.
Generally accepted accounting principles (GAAP) earnings per diluted share for the quarter was 0.67 dollars, up 12 percent from the previous quarter and 168 percent from a year ago. Non-GAAP earnings per diluted share was 0.68 dollars, up 11 percent from the prior quarter and 152 percent from a year ago, the company said.
“Hopper demand remains strong, and the anticipation for Blackwell is incredible,” said Jensen Huang, founder and CEO of Nvidia.
He said generative AI would revolutionize every industry, adding that “Nvidia achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI.”
Nvidia’s outlook for revenue in the third quarter of fiscal 2025 is 32.5 billion dollars, plus or minus 2 percent.
GAAP and non-GAAP gross margins are expected to be 74.4 percent and 75.0 percent, respectively, plus or minus 50 basis points.
During the first half of fiscal 2025, Nvidia returned 15.4 billion dollars to shareholders through shares repurchased and cash dividends. As of the end of the second quarter, the company had 7.5 billion dollars remaining under its share repurchase program.
On Aug. 26, the Board of Directors approved an additional 50 billion dollars in share repurchases.
Nvidia will pay its next quarterly cash dividend of 0.01 dollars per share on Oct. 3 to all shareholders of record on Sept. 12.
On June 7, Nvidia completed a 10-for-one forward stock split. ■