NVIDIA CORPORATION Reports Earnings for Q2 FY2024: Strong Growth Seen in Profits
August 26, 2023
☀️Earnings Overview
NVIDIA CORPORATION ($NASDAQ:NVDA) released their financial results for the second quarter of FY2024, ending on July 31 2023. Total revenue reached USD 13507.0 million, representing a 101.5% increase from the same period the year before. Net income was reported at USD 6188.0 million, up from the USD 656.0 million reported in the corresponding period of FY2023.
Market Price
On Wednesday, NVIDIA CORPORATION reported strong earnings for its second quarter of FY2024. The stock opened up at $458.7 and closed at $471.2, up 3.2% from the prior closing price of $456.7. The results exceeded expectations, driven by strong demand in the gaming and data center sectors. Moreover, the company’s automotive segment also saw a positive growth of 4%.
Overall, NVIDIA CORPORATION is confident that these strong financial results will continue to drive growth and profitability in the coming quarters. With robust product portfolio and a growing customer base in both consumer and enterprise markets, the company looks forward to continuing its success in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nvidia Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 32.68k | 10.33k | 31.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nvidia Corporation. More…
| Operations | Investing | Financing |
| 11.9k | 1.86k | -10.89k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nvidia Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 49.55k | 22.05k | 9.93 |
Key Ratios Snapshot
Some of the financial key ratios for Nvidia Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 35.7% | 45.0% | 34.7% |
| FCF Margin | ROE | ROA |
| 31.6% | 28.9% | 14.3% |
Analysis
At GoodWhale, we have conducted an analysis of NVIDIA CORPORATION‘s fundamentals. After careful review, we have determined that NVIDIA CORPORATION is a medium risk investment in terms of financial and business aspects. We have identified two risk warnings in the balance sheet and financial journal that investors should be aware of. If you are interested in any of NVIDIA CORPORATION’s investments, we highly recommend that you register with us to be able to check out these warnings. We prioritize safety when it comes to investments and believe that it is essential for investors to be informed about any potential risks before making a decision. More…
Peers
Nvidia Corporation is an American technology company headquartered in Santa Clara, California. It designs graphics processing units (GPUs) for the gaming and professional markets, as well as system on a chip units (SOCs) for the mobile computing and automotive market. Nvidia’s primary GPU product line, labeled “GeForce”, is in direct competition with Advanced Micro Devices’ (AMD) “Radeon” products.
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Summary
Investors in NVIDIA CORPORATION should be pleased with the company’s second quarter of FY2024 earnings results, which reported a total revenue increase of 101.5% year-over-year and a huge increase in net income, from USD 656 million to USD 6188 million. On the news of these strong earnings, the company’s stock price moved up, indicating that the market reacted positively to the results. Going forward, analysts expect NVIDIA’s growth to continue, as they benefit from their strong presence in the graphics and AI markets. Overall, NVIDIA looks to be a strong performer in the short and long term.
