What shortage? Nvidia blows past expectations in second quarter
Nvidia exceeded all expectations for its second fiscal quarter of 2024 with revenue of $13.51 billion, a 101% jump from the same quarter last year. Net income came in at $6.74 billion, or $2.48 per diluted share, which is up 854% from a year ago and up 202% from the previous quarter.Analysts had expected revenue to come in at $11.04 billion with earnings per share totaling $2.07, according to data from Bloomberg.And it’s all thanks for enterprise sales. Last quarter, enterprise sales accounted for 60% of total revenue. This quarter, $10.3 billion of the $13.5 billion in total revenue – 76% – came from data center sales.“A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” said Jensen Huang, founder and CEO of Nvidia, in a statement. “Nvidia GPUs connected by our Mellanox networking and switch technologies and running our CUDA AI software stack make up the computing infrastructure of generative AI.”To read this article in full, please click here