Nvidia posted revenues of $3.87 billion for the second fiscal quarter ended July 26, up 50% from a year earlier. The revenues beat expectations, and non-GAAP earnings per share of $2.18 also trounced expectations as gaming hardware and AI remained in high demand during the pandemic. Santa Clara, California-based Nvidia makes graphics processing units (GPUs) that can be used for games, AI, and datacenter computing. While many businesses have been hit hard by the pandemic, Nvidia has seen a boost in those areas. For the second fiscal quarter, analysts expected revenue of $3.65 billion and non-GAAP earnings per share of $1.97.
Nvidia published its fourth quarter financial results on Thursday, disclosing "a turbulent close to what had been a great year," as CEO Jensen Huang described it. However, shares were up in after-hours trading. Nvidia was able to temper market expectations last month with a downward revision of its Q4 earnings. Non-GAAP earnings per diluted share were 80 cents, down 53 percent from $1.72 a year earlier. Revenue came to $2.21 billion, down 24 percent from a year ago.
Nvidia reported earnings that beat expectations and showed that the company's focus on artificial intelligence is still paying off. For the past decade, Nvidia has been rising above graphics chips for gamers, expanding to parallel processing in data centers and lately to artificial intelligence processing for deep learning neural networks and self-driving cars. The company reported earnings per share of $1.33 (up 60 percent from a year ago) on revenue of $2.6 billion (up 32 percent), beating Wall Street's expectations. The company's stock price is up more than 100 percent in the past year on the popularity of artificial intelligence. But it slumped during the day on Thursday, along with the broader market.
Nvidia on Wednesday published fourth quarter financial results above market expectations, with record revenue in both its Gaming and Data Center segments. Fourth quarter non-GAAP earnings per diluted share were $3.10 on revenue of $5 billion, up 61 percent year-over-year. Analysts were expecting earnings of $2.81 on revenue of $4.82 billion. For the full fiscal year, non-GAAP earnings per diluted share were $10. Revenue was a record $16.68 billion, up 53 percent.
Nvidia CEO Jensen Huang said AI would drive long-term demand because it is the "single most powerful force of our time." Nvidia reported earnings and revenues that beat analysts' expectations as demand for graphics and artificial intelligence chips picked up in the second fiscal quarter. Huang also said his company's near-term growth will come from gaming and a couple of variants of the company's artificial intelligence chip business: inferencing and AI at the edge. During a conference call with analysts, Huang said artificial intelligence is the "single most powerful force of our time" and that there are more than 4,000 AI startups working with the company -- as compared to 2,000 AI startups in April 2017. In an interview with VentureBeat, Huang said the actual number of AI startups Nvidia is tracking is closer to 4,500.