NVIDIA (NVDA) Q2 2022 earnings release beats revenue expectations
NVIDIA was able to beat its own revenue and earnings-per-share expectations, but couldn't quite overcome the expectations on Wall Street.
We’re closing in on the final reporting companies of the recent fiscal quarter. Many have already posted their earnings results at this point, but there were a few last groups we were waiting to hear from in the technology and gaming sector. Perhaps most notable was NVIDIA, which has continued to enjoy a lot of spotlight given its release of the much-sought RTX 3000 Series GPUs. In Q2 2022, NVIDIA was able to beat its adjusted earnings-per-share (EPS) and revenue estimates, putting up a record quarter in the latter and several other categories.
NVIDIA released its Q2 2022 earnings results on its investor relations website on August 18, 2021. According to the report, NVIDIA raked in a revenue of $6.51 billion USD. This was around $0.18 billion over its expectation, up 68 percent year-over-year, and a record quarter of overall revenue for the company. Other wins for the company included adjusted EPS. The company put up an adjusted EPS of $1.04 vs the estimated $1.01 - a further feather in NVIDIA’s cap for its Q2 2022.
If one wishes to see the sheer acceleration of NVIDIA’s gaming hardware market, they only need look at its Gaming Revenue stats for Q2 2022, where it put up $3.06 billion and a massive 85 percent year-over-year. Given that NVIDIA has only continued to trend upward since the year began, it feels pretty safe to say its newly-released RTX 3000 Series gaming technology is continuing to help raise the bar for NVIDIA business and demand.
It wasn’t entirely wins though. Though NVIDIA beat its own expectations on EPS, it didn’t beat those of Wall Street, which estimated an EPS of $1.07 per share against the actual $1.04.
Nonetheless, it would appear that as NVIDIA continues to operate as well as necessary through the semiconductor famine, as it continues to move its valued tech into the hands of players and PC build enthusiasts alike. For more earnings reporting on the recent fiscal quarter, be sure to keep it tuned right here at Shacknews.
TJ Denzer posted a new article, NVIDIA (NVDA) Q2 2022 earnings release beats revenue expectations