NVIDIA beats by $0.04, beats on revs; guides Q3 revs in-line
Reports Q2 (Jul) earnings of $1.05 per share, excluding non-recurring items, $0.04 better than the FactSet Consensus of $1.01; revenues rose 55.6% year/year to $46.74 bln vs the $46.05 bln FactSet Consensus.Data Center segment revenue grew 56% yr/yr and 5% sequentially to $41.1 bln.Blackwell Data Center revenue grew 17% sequentially.Gaming and AI PC segment revenue grew 49% yr/yr and 14% sequentially to $4.3 bln.Professional Visualization segment revenue grew 32% yr/yr and 18% sequentially to $601 mln.Automotive segment revenue grew 69% yr/yr and 3% sequentially to $586 mln.There were no H20 sales to China-based customers in Q2.Co benefited from a $180 mln release of previously reserved H20 inventory, from approximately $650 mln in unrestricted H20 sales to a customer outside of China.For the quarter, non-GAAP gross margin was 72.7%. Excluding the $180 mln release, non-GAAP gross margin for the quarter would have been 72.3%.Co issues in-line guidance for Q3 (Oct), sees Q3 revs of $52.92-55.08 bln vs. $53.43 bln FactSet Consensus.Note: The company has not assumed any H20 shipments to China in the Q3 outlook.Blackwell: "Blackwell is the AI platform the world has been waiting for, delivering an exceptional generational leap - production of Blackwell Ultra is ramping at full speed, and demand is extraordinary," said Jensen Huang, founder and CEO of NVIDIA. "NVIDIA NVLink rack-scale computing is revolutionary, arriving just in time as reasoning AI models drive orders-of-magnitude increases in training and inference performance. The AI race is on, and Blackwell is the platform at its center." |
