Ticker

6/recent/ticker-posts

Nvidia's second-quarter revenue increases by 68%, but cryptocurrency-related earnings fall short of expectations

Nvidia's second-quarter sales increased by 68 percent over the same time a year earlier, owing to strong performance from its gaming, data center, and professional visualization platforms.

• Nvidia reported $6.5 billion in sales for the quarter, according to results released on Wednesday. For the same time period, net income was approximately $2.37 billion.

• In February, Nvidia announced the launch of its Cryptocurrency Mining Processors, which are especially targeted towards crypto miners, to address the worldwide lack supply of its cards.

• While sales of its graphics processing units have aided revenue growth, Nvidia missed its estimate of $400 million in revenue from mining-related cards for the quarter. According to Nvidia, sales of crypto mining-related goods reached $266 million.

• When compared to the same time a year ago, income from its data center and professional visualization platforms grew 35 percent and 156 percent, respectively, while gaming revenue increased 85 percent.

• On Wednesday, the company's stock dropped 2.15 percent to approximately $190.40 per share.

Post a Comment

0 Comments