NVIDIA posted a 40% growth in sales from the same time last year with reported a revenue of $3.12 billion for the second quarter of this fiscal year. However, the overall revenue fell by 3 percent from the previous quarter which had a revenue of $3.21 billion.
The GAAP earnings for the previous year were $0.92 and has grown by 91 percent to $1.76 for this quarter. The Non-GAAP earning for the previous year was $1.01 and is up by 92 percent to $1.94 for this quarter. But has gone down by down by 5 percent from the previous quarter.
Jensen Huang, the founder and CEO of NVIDIA stated “We have seen growth across every platform…self-driving cars, AI, Professional Visualization, Gaming drove another great quarter for the company”
The companies growth comes because of the gap in demand and supply also developers are looking for computing models with higher GPU that the company has pioneered.
Colette Kress, the companies CFO, the bull run for crypto mining equipment is over and has also prepared its investors in a statement stating “Our revenue outlook had anticipated crypto-specific products declining to approximately $100 million for the company but the actual revenue from crypto-specific products was $18 million for the company.”
The revenue from quarterly sales at its data centers amounted to $760 million which came from the demand from hyper-scale customers.