NVIDIA’s New Record-Breaking Q2 Fiscal 2025 Results
August 28, 2024 — NVIDIA has announced its financial results for the second quarter of fiscal 2025, revealing substantial growth in both revenue and profits. The company achieved record quarterly revenue of $30.0 billion, a 15% increase from the previous quarter and a remarkable 122% year-on-year surge.
NVIDIA’s data center revenue hit a record $26.3 billion, marking a 16% increase from the previous quarter and a staggering 154% rise from the same period last year. Jensen Huang, NVIDIA’sCEO, commented, “Hopper demand remains strong, and the anticipation for Blackwell is incredible. NVIDIA achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI.”
The company’s GAAP earnings per diluted share reached $0.67, up 12% from the previous quarter and up 168% from the prior year. Non-GAAP earnings per diluted share were slightly higher at $0.68, reflecting a similar trend of significant growth.
Increased Shareholder Returns
In the first half of fiscal 2025, NVIDIA returned $15.4 billion to shareholders through share repurchases and cash dividends. The company’s Board of Directors recently approved an additional $50.0 billion in share repurchase authorisation, further reflecting its commitment to shareholder value. The next quarterly dividend of $0.01 per share is scheduled for October 3, 2024.
Strategic Developments and Product Launches
NVIDIA’s advancements in its product offerings include the shipping of Blackwell samples to partners and the introduction of the Spectrum-X Ethernet for AI and NVIDIA AI Enterprise software. Huang noted, “Generative AI will revolutionise every industry.” The company also reported strong adoption of its new AI technologies, including the NVIDIA Spectrum-X Ethernet networking platform and NVIDIA NIM microservices.
In the latest round of #MLPerf industry benchmarks, the first submission of NVIDIA Blackwell delivered up to 4X more performance on #Llama 2 70B, while the NVIDIA H200 Tensor Core GPU continued to deliver outstanding results across every data center test. https://t.co/q6C8bHyg9o
Looking ahead, NVIDIA expects third-quarter revenue to be approximately $32.5 billion, plus or minus 2%. The company anticipates GAAP and non-GAAP gross margins to be around 74.4% and 75.0%, respectively. Operating expenses are projected to grow in the mid- to upper-40% range for the full year.
Colette Kress, NVIDIA’sExecutive Vice President and CFO, highlighted the company’s strong financial performance and strategic direction, adding that NVIDIA remains well-positioned to lead in accelerated computing and AI innovations.
Conclusion
NVIDIA’s second-quarter results demonstrate the company’s robust growth trajectory and its pivotal role in advancing data center technologies and generative AI. With impressive revenue gains and a solid outlook, NVIDIA continues to strengthen its market position and deliver substantial value to its shareholders.
