- Date : 29/08/2023
- Read: 4 mins
NVIDIA reports huge profits in Q2 as it races ahead in the AI race with innovation and success.
Revenue generated by Nvidia has increased from 6.7 billion dollars last year to 13.51 billion dollars this year, which is almost double. The company has shown a YoY growth of 101.64 per cent in Q2 2024. Nvidia’s growth is credited to the advancements made by the company in the field of AI. With multiple companies working in the field of AI, Nvidia appears to have emerged as the leader of the AI world.
Nvidia reported a revenue of 13.51 billion dollars in Q2 2024.
Net profit of Nvidia in Q2 2024 is 6.19 billion dollars which is a YoY growth of 838 per cent.
The 5-year performance of Nvidia shares is 572.12 per cent.
Nvidia Q2 analysis: Revenue breakdown
Nvidia reported a revenue of $13.51 billion, which is a 101 per cent increase from the Q2 FY23 revenue of $6.7 billion. Even though the reason behind this boost in revenue for Nvidia is its progress in AI, we can dive further into the revenue by taking a look at its different segments.
The data center segment reported an increase in revenue from $3.80 billion to $10.32 billion, with a YoY growth of 171.23 per cent
The gaming segment reported an increase in revenue from $2.042 billion to $2.48 billion with a YoY growth of 21.74 per cent
The PV segment reported a decrease in revenue from $0.496 billion to $0.379 billion, with a YoY decline of 23.59 per cent
The auto segment reported an increase in revenue from $0.22 billion to $0.253 billion with a YoY growth of 15 per cent
Nvidia Q2 analysis: Profits generated
The net profits generated by Nvidia in Q2 FY24 are $6.19 billion, which shows a YoY growth of 838 per cent. The net profit of Nvidia in Q2 FY23 was $0.66 billion. The growth in profits for the company has been tremendous during the past year.
Nvidia Q2 analysis: Share prices
Investors are focused on returns more than any information about the company. Taking a look at returns of Nvidia over the years, you may take a stroll down the memory lane thinking why you didn’t invest!
1 month return: 3.25%
6 months return: 100.69%
1 year return: 163.29%
5 years return: 572.12%
The current share price of the company is at $460.18.
Nvidia is pushing the boundaries in the AI world and the investors are keen to contribute. With exceptional revenue and profits results in Q2 2024 the company has become the favourite in the AI race.
Disclaimer: This article is intended for general information purposes only and should not be construed as insurance or investment or tax or legal advice. You should separately obtain independent advice when making decisions in these areas.