NVIDIA Corporation 2Q F2018 Earnings Beat Sends Shares Lower

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NVIDIA Corporation 2Q F2018 Earnings Beat Sends Shares Lower
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NVIDIA 2Q F2018 earnings were released after closing bell tonight, and the chip maker reported GAAP earnings of 92 cents per share on $2.23 billion in sales. Consensus had been looking for GAAP earnings of 70 cents per share on $1.96 billion in revenue. NVIDIA’s outlook was for sales of $1.91 billion to $1.99 billion in sales.

In the second quarter of its fiscal 2017, the chip maker reported $1.43 billion in revenue, GAAP earnings of 41 cents per share, and non-GAAP earnings of 53 cents per share.

NVIDIA 2Q F2018 earnings

On a non-GAAP basis, NVIDIA 2Q F2018 earnings rose to $1.01 per share from 53 cents per share a year ago. The chip maker’s non-GAAP gross margin expanded 50 basis points year over year to 58.6% from 58.1% last year, while its GAAP gross margin also expanded 50 basis points, rising to 58.4% from57.9% last year. NVIDIA management cites automotive, gaming as strengths.

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