NVIDIA Corporation (NASDAQ: NVDA) has announced fiscal Q2 2022 financial results for the quarter ending August 1, 2021, in which revenue was up 68% YoY and 15% QoQ to $6.51 billion. In addition, the company realized record revenue from the Data Centre, Gaming, and Professional Visualization segments.
GAAP earnings grew 276% YoY in Q2 2022
During the quarter, GAAP earnings were up 276% YoY and 24% QoQ to $0.94 per diluted share, while non-GAAP earnings per share increased 89% YoY and 14% QoQ to $1.04. In addition, the company reported record Data Centre revenue of around $2.37 billion, a YoY increase of 35%, and record Gaming revenue increasing 85% from a year ago to $3.06 billion. The company introduced the GeForce RTX 3070 Ti and GeForce RTX during the quarter, delivering over 50% performance relative to the previous generation. Also, it announced that NVIDIA RTX featured in 130+ applications and games. In the Data Center segment, the company unveiled NVIDIA Fleet Command and Base Command software platforms to deploy, develop and manage AI apps in industrial and enterprise edge. Also, the company launched NVIDIA AI LaunchPad, which gives enterprises immediate AI infrastructure. CEO Jensen Huang said, “NVIDIA’s pioneering work in accelerated computing continues to advance graphics, scientific computing and AI. This quarter, we launched NVIDIA Base Command and Fleet Command to develop, deploy, scale and orchestrate the AI workloads that run on the NVIDIA AI Enterprise software suite. With our new enterprise software, wide range of NVIDIA-powered systems and global network of system and integration partners, we can accelerate the world’s largest industries racing to benefit from the transformative power of AI.”
NVIDIA expects revenue of $6.8 billion in Q3 2022
The company expects revenue to be around $6.8 billion-plus or minus 2% in the third quarter. Non-GAAP and GAAP gross margins are likely to be 67% and 65.2%, respectively +/- 50 basis points.
The company paid cash dividends of $100 million in Q2. The next quarterly dividend of $0.04 per share will be payable on September 23, 2021, to shareholders on record as of September 1, 2021.