Nvidia's strong earnings can't match the hype
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 28 August 2024
⏱️ 4 minutes
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Episode transcripts: seekingalpha.com/wsb
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news and analysis. |
| 0:10.0 | Good afternoon, today is Wednesday, August 28thth and I'm your host Kim Khan. |
| 0:14.4 | This is a special Invidia earnings edition of Wall Street Lunch. |
| 0:18.3 | The Eagle was landed. Invidia reported fiscal second quarter results and guidance that topped expectations. |
| 0:25.0 | The AI Chip Darling said it earned 68 cents per share on an adjusted basis as revenue grew |
| 0:31.2 | a hundred and twenty percent year over year to come in at |
| 0:33.9 | 30 billion. Analysts were expecting the company to earn 64 cents per share on |
| 0:38.5 | 28.73 billion in revenue. Looking to the third quarter of fiscal 2025, |
| 0:44.0 | NVIDIA expects to generate 32.5 billion in revenue |
| 0:47.8 | plus or minus 2%. Analysts were forecasting 31.71 billion. |
| 0:53.0 | Data center revenues flew past expectations coming in at 26.3 billion |
| 0:58.0 | compared to estimates of 25.08 billion. |
| 1:01.0 | Automotive revenue for the period clocked in at |
| 1:03.4 | 346 million, while professional visualization revenue |
| 1:07.2 | rose 20% year over year to 454 million. |
| 1:10.8 | Addested gross margin came in at 75.7% for the quarter. |
| 1:16.2 | CEO Jensen Rahn said, Hopper demand remains strong and the anticipation for Blackwell is incredible, |
| 1:22.3 | adding that Blackwell samples are shipping to partners |
| 1:25.4 | after some concerns over delays. |
| 1:28.0 | NVIDIA also announced a $50 billion share buyback program. |
| 1:32.0 | At the end of the quarter |
| 1:32.8 | NVIDIA had 7.5 billion left on its previous share of purchase |
... |
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