Today, all three major indices have risen, and several major technology stocks have also broken through in volume. Nvidia and AMD have also increased by around 3%. This increase even before Nvidia's earnings report shows that the market was still very confident about Nvidia's performance at the time.
As expected, Nvidia not only surpassed expectations in the 2nd quarter, but the guidance for the 3rd quarter was also impressive. It is expected to achieve revenue of 16 billion dollars and an expected revenue of 12.6 billion yuan, exceeding expectations by about 30%.
Specifically, total revenue for the 2nd quarter was 13.5 billion yuan, up 88% month-on-month, and Data Center was 10.3 billion, up 141% month-on-month! The year-on-year increase was 171%. China accounts for around 20-25%, GAAP EPS 2.48 85% YoY and 202% YoY.
The company approved a 25 billion repurchase
NVIDIA CEO Hwang In-hoon mentioned that a new era has begun, and companies around the world are shifting from general computing to accelerated computing and generative AI, which means that AI and high-performance computing are becoming mainstream in the industry, and also illustrates NVIDIA's important position in this field.
What's even more outrageous is that gross margin has risen to a frightening 70%, indicating that video cards continue to be in short supply and that gross profit will increase further next quarter.
NVIDIA's expectations for the third quarter of fiscal year 2024 are as follows:
revenues: Revenue is expected to reach$16 billion, the range of floating up and down is 2%.
gross profit margin: The gross margin calculated according to GAAP and non-GAAP is expected to be 71.5%, respectively...