NVIDIA Q2 FY2024 Earnings Note
[Rewards] NVIDIA shares soar after Q2 earnings beat, driven by strong demand for AI chips
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KEY Figures:
● Q2 revenue was a record of $13.51 billion, up 88% QoQ (quarter-on-quarter) and up 101% YoY (year-on-year), beating the expectation of $11.22 billion by Refinitiv.
● NVIDIA got a record Data Center revenue of $10.32 billion, up 141% from Q1 and 171% YoY.
● Non-GAAP diluted EPS was $2.70 versus $2.09 per share expected by Refinitiv
● During Q2 FY 24, NVIDIA returned shareholders $3.38 billion. Besides, the company's management approved an additional $25.00 billion in share repurchases. NVIDIA plans to continue share repurchases this fiscal year.
For the Q3 FY24 Outlook,
● Revenue is expected to be $16.00 billion, plus or minus 2%.
● GAAP and non-GAAP gross margins are expected to be 71.5% and 72.5%, respectively.
● GAAP and non-GAAP other income and expense are expected to be an income of about $100 million, excluding losses and gains from non-affiliated investments.
More statistics: NVIDIA Quarterly Revenue Trend
KEY Points:
● NVIDIA announced that the GH200 Grace™️ Hopper™️ Superchip for complex AI and HPC workloads is shipping this quarter, with a second-generation version with HBM3e memory expected to ship in Q2 of calendar 2024.
● In the Gaming sector, the revenue was $2.49 billion, up 22% YoY. NVIDIA began shipping the GeForce RTX™️ 4060 family GPUs, bringing NVIDIA Ada Lovelace architecture and DLSS to gamers.
● In the Professional Visualization sector, the Q2 revenue was $379 million, down 24% YoY. The company announced three new desktop workstation RTX GPUs based on the Ada Lovelace architecture to deliver the latest AI, graphics and real-time rendering.
● For the Automotive businesses, the company partnered with MediaTek, which will develop mainstream automotive systems on chips for global OEMs. Besides, the company's NVIDIA DRIVE Orin™️ is powering the XPENG G6's driver assistance system.
● Despite strong financial performance, question marks remain around the sustainability of the chip demand spike. Given NVIDIA's historical average valuation, the safety margin shall be paid attention to by its investors.
The KEY in your hands:
By August 23, 2023, NVDA shares had rocked more than 200% since the beginning of 2023, outperforming the S&P 500 (.SPX), which was up about 16% during the same period (Source: moomoo APP).
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Disclaimer
Comments above are made available for informational purposes only. Before investing, please consult a licensed professional. *Source of data: https://news.moomoo.com/notice/149969781; NVIDIA's earnings conference call* This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Before investing, please consult a licensed professional. See this link for more information.
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funny Giraffe_6930 : I don't have it
Chak : Awesome
NoMansLand : i don’t have it and won’t buy, it’s definitely overbought
EdwardMo : It business is our future opportunities
moo fans : Up!
散戶跟班 : Future prospects still need to pay attention to the smooth research and development and application of future AI chips in order to achieve real benefits
Shootingstar : Clearly a financial institution pump just like what happened to Tesla. Once it hit 1200 which I believe they want to happen here as well. Not financial advice
102096319 : will it hit 600 by sept?
73514905 : NVDA looks overbought. However, I'd wait until the Fed speaks on Friday to maybe enter a credit spread depending on JP's tone.
quekky : I will add more of Nvidia stocks while everyone is still talking about AI market, datacenters are stocking up Nvidia gpu due to AI. 打铁趁热
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