Nvidia (NASDAQ:NVDA) earnings for the graphics card company’s fiscal second quarter of 2021 have NVDA stock dipping lower after-hours Wednesday. That’s despite it reporting adjusted earnings per share of $2.18 on revenue of $3.87 billion. These are both better than Wall Street’s estimates of $1.97 per share and revenue of $3.65 billion.
Let’s take a deeper dive into the most recent Nvidia earnings report.
- Adjusted per-share earnings are up 76% from $1.24 in the same period of the year prior.
- Revenue for the quarter is sitting 50% higher than the $2.58 billion reported in fiscal Q2 2020.
- Operating income of $651 million is a 14% increase year-over-year from $571 million.
- The Nvidia earnings report also has it bringing in a net income of $622 million.
- That’s a 13% better result compared to its net income of $552 million reported during the same time last year.
Jensen Huang, founder and CEO of Nvidia, said this in the earnings report.
“Adoption of NVIDIA computing is accelerating, driving record revenue and exceptional growth. Growth in GeForce gaming accelerated as gamers increasingly immerse themselves in realistic virtual worlds created by NVIDIA RTX ray tracing and AI.”
Nvidia also includes an outlook for fiscal Q3 2021 in its earnings report. It’s expecting revenue of $4.4 billion, with a plus or minus of 2%. That stacks up well next to Wall Street’s estimate of $3.97 billion for the quarter.
NVDA stock was down 1% after markets closed on Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.