Published , by Asif Khan
Published , by Asif Khan
NVIDIA is out with Q2 2024 earnings results, and the company has also provided some very bullish revenue guidance for Q3. The world's largest semiconductor company now expects Q3 2024 sales to come in at $16 billion, well ahead of analyst expectations of $12.6 billion.
Here's the Q3 2024 forecast provided in today's NVIDIA Q2 2024 press release:
Outlook
NVIDIA’s outlook for the third quarter of fiscal 2024 is as follows:
- Revenue is expected to be $16.00 billion, plus or minus 2%.
- GAAP and non-GAAP gross margins are expected to be 71.5% and 72.5%, respectively, plus or minus 50 basis points.
- GAAP and non-GAAP operating expenses are expected to be approximately $2.95 billion and $2.00 billion, respectively.
- GAAP and non-GAAP other income and expense are expected to be an income of approximately $100 million, excluding gains and losses from non-affiliated investments.
- GAAP and non-GAAP tax rates are expected to be 14.5%, plus or minus 1%, excluding any discrete items.
Check out our article breaking down the tremendous NVIDIA Q2 2024 earnings results for more on the current quarter. We are also going to be streaming the earnings call at 5 p.m. on the Shacknews Twitch channel.
It appears that the AI tailwind is showing no signs of slowing down for NVIDIA. Most of the company's Q2 2024 revenues came from the Data Center business segment, and it appears that will be the case next quarter as demand for NVIDIA H1000 AI infrastuctures remains high. “During the quarter, major cloud service providers announced massive NVIDIA H100 AI infrastructures. Leading enterprise IT system and software providers announced partnerships to bring NVIDIA AI to every industry. The race is on to adopt generative AI,” said NVIDIA CEO Jensen Huang.
NVIDIA (NVDA) shares are up over 8% in afterhours trading. Keep it locked on Shacknews for all the latest tech and video game news.