NVIDIA Reports $2.58 Billion Q2 Revenue as RTX and AI Momentum Grows
NVIDIA reveals $2.58 billion in Q2 fiscal 2020 revenue, showing strong sequential growth despite a year-over-year decline. The company points to surging adoption of real-time ray tracing and accelerated computing as key drivers.
NVIDIA reports $2.58 billion in revenue for the second quarter of fiscal 2020, which represents a 16 percent increase from the previous quarter but a 17 percent decrease from the same period last year. The company achieves GAAP earnings of $0.90 per diluted share and non-GAAP earnings of $1.24 per diluted share, showing significant sequential growth of 41 percent compared to the prior quarter.
CEO Jensen Huang highlights that real-time ray tracing reaches a major tipping point with NVIDIA RTX leading the graphics industry. He also notes that the company's accelerated computing momentum continues to build as industries rush to enable next-generation artificial intelligence, conversational AI, and autonomous systems like self-driving vehicles and delivery robots.
NVIDIA plans to pay a quarterly cash dividend of $0.16 per share in September, though purchasing Mellanox Technologies remains the top priority for its cash balance. The company intends to resume stock repurchases after closing the Mellanox acquisition, which is progressing through regulatory approvals and remains on track to finalize by the end of the calendar year.