Nvidia shares -7.5% after Q2, guidance beats
Aug. 10, 2017 5:46 PM ET|By: Brandy Betz, SA News Editor
Nvidia (NASDAQ: NVDA) shares drop 7% despite reporting Q2 EPS and revenue beats with record sales up 56% on the year. Q3 guidance revenue midpoint of $2.35B beat the consensus of $2.13B.
Revenue by reportable segment: GPU, $1.9B (+ 59% Y/Y) and Tegra Processor, $333M (+101%).
Revenue by Market Platform: Gaming, $1.2B (+52%); Professional Visualization, $235M (+10%); Datacenter, $416M (+175%); Automotive, $142M (+19%); OEM and IP, $251M (+54%).
Financials: Non-GAAP gross margin, 58.6% (+50 bps); operating expenses, $533M (+19%); cash and equivalents, $5.9B; convertible debt, $84M.
Capital return: Nvidia paid $758M in share repurchases and $166M in cash dividends in the first half of FY18; company plans to return $1.25B total this fiscal year.
Additional Q3 guidance: gross margin, within 50 bps of 58.8%; operating expenses, $570M; capital expenditures, $65M to $75M.
Press release / CFO commentary
Previously: Nvidia beats by $0.31, beats on revenue (Aug. 10)
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