NVIDIA Announces Financial Results for Second Quarter Fiscal 2021


Non-GAAP
($ in millions, except
earnings per share)
Q2 FY21 Q1 FY21 Q2 FY20 Q/Q Y/Y
Revenue$3,866$3,080$2,579Up 26%Up 50%
Gross margin66.0%65.8%60.1%Up 20 bpsUp 590 bps
Operating expenses$1,035$821$749Up 26%Up 38%
Operating income$1,516$1,205$802Up 26%Up 89%
Net income$1,366$1,120$762Up 22%Up 79%
Diluted earnings per share$2.18$1.80$1.24Up 21%Up 76%

NVIDIA’s outlook for the third quarter of fiscal 2021 is as follows:

  • Revenue is expected to be $4.40 billion, plus or minus 2 percent.
  • GAAP and non-GAAP gross margins are expected to be 62.5 percent and 65.5 percent, respectively, plus or minus 50 basis points.
  • GAAP and non-GAAP operating expenses are expected to be approximately $1.54 billion and $1.09 billion, respectively.
  • GAAP and non-GAAP other income and expense are both expected to be an expense of approximately $55 million.
  • GAAP and non-GAAP tax rates are both expected to be 8 percent, plus or minus 1 percent, excluding any discrete items. GAAP discrete items include excess tax benefits or deficiencies related to stock-based compensation, which are expected to generate variability on a quarter by quarter basis.

Highlights

Since its previous earnings report, NVIDIA has achieved progress in these areas:

Data Center


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