By Yasin Ebrahim
Investing.com - NVIDIA (NASDAQ:NVDA) reported second quarter results that beat analysts' forecasts, led by record growth record in its gaming, and data centre businesses.
NVIDIA shares was up 0.9% in after-hours trade on Wednesday following the report.
NVIDIA announced earnings per share of $1.04 on revenue of $6.51 billion. Analysts polled by Investing.com anticipated EPS of $1.02 on revenue of $6.32 billion.
Revenue in its gaming business grew 85% to a record $3.06 billion for the quarter year-on-year, while its data center revenue also well to record of $2.37 billion, up 35% from a year earlier.
Gaming revenue was underpinned by demand for Nvidia’s GeForce RTX 30 Series GPUs. “NVIDIA RTX has started a major upgrade cycle as gamers jump to ray tracing, DLSS and AI,” the company said.
Looking ahead to the fiscal third quarter, the company expected to generate revenue of $6.80 billion, give or take 2%, beating Wall Street forecasts for revenue of 6.58B. Gross margins are expected to be 65.2%.
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