NVIDIA Corporation
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Nvidia : beats expectations with 56% growth in Q2 revenues

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08/12/2017 | 02:23 pm

Nvidia`s total revenue rose 56 per cent to US$2.23 billion, beating estimates of US$1.96 billion.

But despite the new Volta-based cards, sales in the data center increased only 2% from the first quarter to $416 million (although that still represented an impressive 175% increase from a year earlier). Revenues a year ago were $1.4 billion.

Jensen Huang, chief executive at Nvidia, acknowledged the popularity of the firm`s graphics cards with miners and admitted that the supply situation wasn`t ideal for gamers looking to buy a beefy new pixel-shifter. Miners use computers to process cryptocurrency transactions, and they are rewarded with additional cryptocurrency. The customers are chiefly deep-learning leaders with so-called "hyperscale" data centers, such as Google Inc., Facebook Inc., Microsoft Corp., Amazon.com Inc. and IBM Corp., several of which provide access to GPU power online through their cloud computing services.

Nvidia said it saw strong growth in the data centre market, as well as continued success in gaming. A growing number of vehicle and robot-taxi companies are choosing our Drive PX self-driving computing platform.

The company`s overall revenue has nearly doubled in the past year, driven mainly by strong increases in revenues from its gaming, datacenter and OEM divisions, which grew by a collective total of $758 million. "And in gaming, increasingly the world`s most popular form of entertainment, we power the fastest growing platforms - GeForce and Nintendo Switch".

"Cryptocurrency and blockchain are here to stay", Nvidia CEO Jen-Hsun Huang said on a conference call after the company published its second quarter financial results. "This is the era of AI, and the Nvidia GPU has become its brain", he said. Nvidia`s PC OEM revenue - which includes GPUs designed for mainstream desktops, notebooks, and cryptocurrency mining - brought in $251 million in revenue, up 54 percent year-over-year and 61 percent sequentially. "We have incredible opportunities ahead of us", he said.

For its third fiscal quarter, NVIDIA expects revenue to be about $2.35 billion, plus or minus 2%. As a result, he`s profiting off NVIDIA 2Q F2018 earnings, as the chip maker`s stock slumped in after-hours trade falling by more than 4% to as low as $157.95, although Left has said he expects it to fall much further at some point.

(c) 2017 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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