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NVIDIA Announces Financial Results for Second Quarter Fiscal 2025
August 28, 2024

Record quarterly revenue of $30.0 billion, up 15% from Q1 and up 122% from a year ago
Record quarterly Data Center revenue of $26.3 billion, up 16% from Q1 and up 154% from a year ago

NVIDIA (NASDAQ: NVDA) today reported revenue for the second quarter ended July 28, 2024, of $30.0 billion, up 15% from the previous quarter and up 122% from a year ago.

For the quarter, GAAP earnings per diluted share was $0.67, up 12% from the previous quarter and up 168% from a year ago. Non-GAAP earnings per diluted share was $0.68, up 11% from the previous quarter and up 152% from a year ago.

“Hopper demand remains strong, and the anticipation for Blackwell is incredible,” said Jensen Huang, founder and CEO of NVIDIA. “NVIDIA achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI.”

“Blackwell samples are shipping to our partners and customers. Spectrum-X Ethernet for AI and NVIDIA AI Enterprise software are two new product categories achieving significant scale, demonstrating that NVIDIA is a full-stack and data center-scale platform. Across the entire stack and ecosystem, we are helping frontier model makers to consumer internet services, and now enterprises. Generative AI will revolutionize every industry.”

During the first half of fiscal 2025, NVIDIA returned $15.4 billion to shareholders in the form of shares repurchased and cash dividends. As of the end of the second quarter, the company had $7.5 billion remaining under its share repurchase authorization. On August 26, 2024, the Board of Directors approved an additional $50.0 billion in share repurchase authorization, without expiration.

NVIDIA will pay its next quarterly cash dividend of $0.01 per share on October 3, 2024, to all shareholders of record on September 12, 2024.

On June 7, 2024, NVIDIA completed a ten-for-one forward stock split. All share and per-share amounts presented have been retroactively adjusted to reflect the stock split.

Q2 Fiscal 2025 Summary

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News

Nvidia sells off, is the stock overvalued?
https://youtube.com/watch?v=6JxWJ7n3cQ8&t=12s

Q2 Results

"The numbers still not enough for many investors" ... Yahoo Finance analyst

August 31, 2024

Shares of Nvidia (NVDA) slid this week, despite beating Wall Street expectations on the top and bottom line for their second quarter earnings report. Investors may be trying to understand where this slide comes from despite all the hype around AI. Tusk Venture Partners Founder And CEO Bradley Tusk joins Market Domination Overtime to give insight into Nvidia's earnings, the AI sector, and the potential for OpenAI's next round of funding. In terms of why Nvidia shares have been sliding, despite a positive Q2 performance, Tusk says: "Really it's sort of I think speaks to a slightly broader concern, which is at the back of investors minds. They're starting to wonder like, 'hey, are we over inflating this? Is it going too far?' Because they couldn't have really done any better than they did. It's unreasonable. Like 'it's your fault.' It's not their fault. It's a question of are they overvalued and that's collectively our fault, right? " With the Wall Street Journal reporting that Nvidia is in talks about investing in OpenAI, Tusk comments: "What's the strategic value for you in having a role with OpenAI? What they all might say is, look, we want a seat at the table. 'We want to know what they're up to. We don't want all of a sudden, Microsoft taking this thing going off in a totally different direction, that we can't compete with.'"

via Yahoo Finance
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Media Man: Yahoo Finance is a former Media Man 'Business News Outlet Of The Month' award winner

Nvidia delivers, stock slips

Nvidia revenue soars to record amid growing questions about AI spend, competition

August 29, 2024

Nvidia, the most important stock in the world according to many on Wall Street, handily beat expectations this afternoon in an earnings report that reflects rising investments in AI across broad parts of the economy.

By the numbers: Demand for the company's AI products and services generated a record $30 billion in revenue in its latest fiscal quarter.

That's up 122% over the same period last year.

Earnings came in at $0.67 a share, up 168% from last year.

Analysts polled by FactSet were expecting $28.72 billion in revenue and earnings of $0.65 a share.

The company also projects revenue for the current quarter to reach $32.5 billion, which is higher than analyst consensus.

The company's shares are slipping after hours, reflecting abnormal expectations and the stock's inherent volatility.

State of play: Nvidia has become synonymous with AI, but that doesn't mean it can relax. Peers, startups and even its own customers are increasingly trying to encroach on its territory.

Nvidia's main GPU rival AMD just agreed to acquire ZT Systems for a boost in engineering brain power.

Chip- and AI-design upstarts Cerebras, d-Matrix and Groq have been raising hundreds of millions of dollars in venture capital.

And Microsoft, Meta, Amazon, Alphabet and OpenAI, which are buyers of Nvidia's forthcoming Blackwell platform processors, each have been working on their own homegrown chips.

What we're watching: Despite this stepped-up race in the AI chip game, Nvidia is reportedly under investigation from the DOJ related to whether it has abused its position of market dominance.

Today's results may not help its case.

Go deeper

Nvidia revenue soars to record amid growing questions about AI spend, competition

Nvidia, the most important stock in the world according to many on Wall Street, handily beat expectations Wednesday afternoon in an earnings report that reflects rising investments in AI across broad parts of the economy.

Why it matters: The company has become synonymous with AI, but that doesn't mean it can relax. Peers, startups and even its own customers are increasingly trying to encroach on its territory.

Nvidia's main GPU rival AMD just agreed to acquire ZT Systems for a boost in engineering brain power.

Chip- and AI-design upstarts Cerebras, d-Matrix and Groq have been raising hundreds of millions of dollars in venture capital.

And Microsoft, Meta, Amazon, Alphabet and OpenAI, which are buyers of Nvidia's forthcoming Blackwell platform processors, each have been working on their own homegrown chips.

Reality check: Despite this stepped-up race in the AI chip game, Nvidia is reportedly under investigation from the DOJ related to whether it has abused its position of market dominance.

Today's results may not help its case.

By the numbers: Demand for Nvidia's AI products and services generated a record $30 billion in revenue in its latest fiscal quarter.

That's up 122% over the same period last year.

Earnings came in at $0.67 a share, up 168% from last year.
Analysts polled by FactSet were expecting $28.72 billion in revenue and earnings of $0.65 a share.

The company also projects revenue for the current quarter to reach $32.5 billion, which is higher than analyst consensus.

The big picture: Every earnings report from Nvidia is now a crucial one, as it's become the biggest and clearest barometer for the world's interest in AI.

There were 285 mentions of Nvidia in the second quarter across all events, presentations and meetings of roughly 9,000 publicly traded companies around the world, according to market data provider AlphaSense.

For context, in Q2 2024, there were 144 documents that mentioned "Boeing." (Credit: AXIOS)

Questions of ROI

Questions have grown around whether companies spending billions with Nvidia or other AI tech will ever see sizable returns on their investments.

CEO Jensen Huang was asked about his perspective on the issue twice on this afternoon's earnings call with analysts.

He argued that new AI and accelerated computing infrastructure ultimately generate returns because they help businesses save on costs.

What they're saying: "Accelerated computing, of course, speeds up applications. It also enables you to do computing at a much larger scale, for example, scientific simulations or database processing. But what that translates directly to is lower cost and lower energy consumed," Huang said.

"The people who are investing in Nvidia infrastructure are getting returns on it right away," he added.

What we're watching: Blackwell, the highly anticipated new line of AI chips, will start shipping out in Q4, Huang said.

One analyst expects the products could drive the company's data center revenue to more than $200 billion this year, up from $47.5 billion last year.

The intrigue: Despite the strong results, shares of the company fell after hours Wednesday, reflecting the abnormal expectations placed on the company and the inherent volatility of the stock.

Nvidia's average 30-day historical volatility this year is roughly twice the average for all other companies with market caps higher than $1 trillion, according to a Reuters analysis.
Editor's note: This story has been updated with new developments from the company's earnings call.

(Credit: AXIOS)

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Trump, Biden reports rock chip sector

July 17, 2024

A pair of developments sparked by the current president and his 2024 challenger sent shudders throughout the chip sector today.

Why it matters: The industry most crucial to defense and the AI revolution continues to be squeezed on multiple sides — as demand continues to outpace supply.

Driving the news: Former President Trump chided Taiwan in a Bloomberg interview published yesterday for taking away U.S. chip manufacturing and using the U.S. as an "insurance policy" against China.

Overnight, a separate Bloomberg report suggested that the Biden administration is considering putting into place severe U.S. trade restrictions on advanced chip technology to China that could be imposed on several foreign-made products.

Zoom in: The administration is facing pressure from domestic companies that feel disadvantaged by existing U.S. trade restrictions. Now it's attempting to sway allies to limit their own companies from continuing to supply China with advanced semiconductor technology, Bloomberg noted.

The intrigue: Chip stocks were pummeled across the globe today (Nvidia, AMD, Qualcomm among them), alongside some Big Tech names including Meta and Apple.

The tech-heavy Nasdaq closed down 2.8% to its worst level since December 2022.

Analyst Jim Lebenthal of Cerity Partners speculated on CNBC today, however, that some investors may be using the news as an excuse to take profits.

What we're watching: ASML shares fell more than 12.7% today despite issuing better-than-expected bookings for its machines in its last quarter.

TSMC, which closed down about 8%, is scheduled to release its latest earnings report tomorrow morning. (AXIOS)

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Chip Maker/Tech Stock News

Nvidia suffers biggest loss in world history after $646 billion bloodbath

"This is a concern"

June 27, 2024

The AI and microchip company has lost 13 per cent in valuation in the past three days.

Nvidia stock has fallen for the third consecutive day and the company has entered the history books as a result. The AI technology and microchip giant's value has seen an incredible climb since 2023 and last week became the world's biggest and most valuable company in terms of market capitalisation.

But since then it has been an absolute bloodbath. Shares dropped 6.7 per cent in value on Monday, which takes the total three-day value drop to 13 per cent, or $646 billion (USD$430 billion).

Not only was the 6.7 per cent fall the largest single-day plummet since April, but it's also the biggest three-day value loss for any company in history, according to Bloomberg.

Even with the slump, Nvidia remains up nearly 140 per cent this year, making it the second-best performer among S&P 500 Index components, behind Super Micro Computer, another favourite AI play.

The stock suffered a drawdown of about 20 per cent earlier this year, although it quickly returned to all-time highs.

While investors have flocked to Nvidia given the sky-high demand for its chips used in AI processing, the scale of Nvidia’s rally – it soared about 240 per cent over the course of 2023 – has underlined concerns about its valuation.

The stock trades at 21 times estimated sales over the next 12 months, making it the most expensive in the S&P 500 by this measure. Still, it remains well liked on Wall Street. Nearly 90 per cent of the analysts tracked by Bloomberg recommend buying, and the average analyst price target points to an upside of about 12 per cent from current levels.

“The momentum in Nvidia and AI stocks, in general, has been staggering,” said Charlie Ashley, portfolio manager at Catalyst Funds. “In terms of investing, I would not be a contrarian right now.” (AI News, Bloomberg, Wires, Yahoo!)

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