Nvidia brings strong Q2 earnings to the scene

August 25, 2020
Nvidia brings strong Q2 earnings to the scene

Surprising Q2 earnings for Nvidia

Nvidia reported its Q2 earnings yesterday. The American multinational chip-maker exceeded market expectations with revenues of $3.87 billion, or $2.18 per share. The forecasts were of $1.98 per share, with a revenue of $3.65 billion.

The company’s increase in results was boosted by the rising data center business segment, growing 167% to $1.75 billion from last year’s figures.

Right after comes the gaming division which grew 26% as compared to the previous year’s numbers, to $1.65 billion, making this the first time the company's data business center provided more revenue than the gaming division.

For the next quarter, close to $4.40 billion, or ± 2% is expected by Nvidia. After the report, the stock price traded 0.83% higher. Since the beginning of the year, their shares gained 106%, with USA500 adding 4.51%.

Sources: thestreet.com, investing.com

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