SANTA CLARA, Calif., Aug. 15, 2019 (GLOBE NEWSWIRE) -- NVIDIA (NASDAQ: NVDA) today reported revenue for the second quarter ended July 28, 2019, of $2.58 billion compared with $3.12 billion a year earlier and $2.22 billion in the previous quarter.
GAAP earnings per diluted share for the quarter were $0.90, compared with $1.76 a year ago and $0.64 in the previous quarter. Non-GAAP earnings per diluted share were $1.24 compared with $1.94 a year earlier and $0.88 in the previous quarter.
“We achieved sequential growth across our platforms,” said Jensen Huang, founder and CEO of NVIDIA. “Real-time ray tracing is the most important graphics innovation in a decade. Adoption has reached a tipping point, with NVIDIA RTX leading the way.
“NVIDIA accelerated computing momentum continues to build as the industry races to enable the next frontier in artificial intelligence, conversational AI, as well as autonomous systems like self-driving vehicles and delivery robots,” he said.
NVIDIA will pay its next quarterly cash dividend of $0.16 per share on September 20, 2019, to all shareholders of record on August 29, 2019. The first priority of the company’s cash balance is the purchase of Mellanox Technologies, Ltd. The company will return to repurchasing its stock after the close of the Mellanox acquisition. The regulatory approval process for this acquisition is progressing as expected, and NVIDIA continues to work toward closing the deal by the end of this calendar year.
Q2 Fiscal 2020 Summary
| GAAP | ||||||||
| ($ in millions, except earnings per share) | Q2 FY20 | Q1 FY20 | Q2 FY19 | Q/Q | Y/Y | |||
| Revenue | $2,579 | $2,220 | $3,123 | Up 16% | Down 17% | |||
| Gross margin | 59.8% | 58.4% | 63.3% | Up 140 bps | Down 350 bps | |||
| Operating expenses | $970 | $938 | $818 | Up 3% | Up 19% | |||
| Operating income | $571 | $358 | $1,157 | Up 59% | Down 51% | |||
| Net income | $552 | $394 | $1,101 | Up 40% | Down 50% | |||
| Diluted earnings per share | $0.90 | $0.64 | $1.76 | Up 41% | Down 49% | |||
| Non-GAAP | ||||||||
| ($ in millions, except earnings per share) | Q2 FY20 | Q1 FY20 | Q2 FY19 | Q/Q | Y/Y | |||
| Revenue | $2,579 | $2,220 | $3,123 | Up 16% | Down 17% | |||
| Gross margin | 60.1% | 59.0% | 63.5% | Up 110 bps | Down 340 bps | |||
| Operating expenses | $749 | $753 | $692 | Down 1% | Up 8% | |||
| Operating income | $802 | $557 | $1,290 | Up 44% | Down 38% | |||
| Net income | $762 | $543 | $1,210 | Up 40% | Down 37% | |||
| Diluted earnings per share | $1.24 | $0.88 | $1.94 | Up 41% | Down 36% | |||
