Key Takeaways
- Nvidia posted $46.7B in revenue and $1.05 EPS in Q2 FY26, up 56% year-over-year, led by $41.1B in data center sales.
- Shares fell 3% after hours, while Bitcoin traded flat near $112K despite a history of positive correlation with Nvidia earnings.
Nvidia reported fiscal second-quarter earnings on Wednesday after the bell, delivering revenue of $46.7 billion and adjusted earnings of $1.05 per share. The results, which matched expectations, marked a 56% increase from the same quarter last year.
Despite the strong headline numbers, Nvidia shares fell about 3% after hours, according to Yahoo Finance data. The company guided fiscal third-quarter revenue to $54 billion, plus or minus 2 percent, which represents 51% growth compared to last year.
Nvidia’s data center division continued to drive results, generating $41.1 billion in revenue, up 56% year-over-year. The Blackwell architecture ramped across major customers, with networking revenue nearly doubling from last year. The company also disclosed no H20 chip sales to China in the quarter, underscoring the impact of US export restrictions.
Bitcoin traded flat near $112,000 during and after the results, recovering from a brief dip before earnings but holding steady on the day. A CoinDesk report earlier in the day noted that Bitcoin has risen in seven of the last ten quarters following Nvidia’s earnings since early 2023.
Market watchers will be watching in the coming days and weeks to see if Bitcoin responds to Nvidia’s positive earnings call.
Source: https://cryptobriefing.com/nvidia-earnings-beat-q2-2024-ai-chip-demand/
