Nvidia brings strong Q2 earnings to the scene

August 25, 2020

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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