In addition to a record revenue of $13.51 billion, Nvidia also reported a gross margin of 70.1 percent, up by 26.6 percent compared to the last year and up by 5.5 percent compared to the last quarter. The operating income is at $6.8 billion, up by 1,263 percent compared to the last year, while net income is reported at $6.18 billion, up by 843 percent compared to the last year and up by 203 percent compared to the last quarter. The diluted earnings per share (EPS) is at $2.48, up by 854 percent compared to the last year and up by 202 percent compared to the previous quarter. Nvidia has repurchased 7.5 million shares at $3.28 billion and will pay its next quarterly cash dividend of $0.04 per share on September 28, 2023.
"A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI," said Jensen Huang, founder and CEO of NVIDIA. "NVIDIA GPUs connected by our Mellanox networking and switch technologies and running our CUDA AI software stack make up the computing infrastructure of generative AI."
"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," he said.
Regarding different segments of the company, the data center group had a record quarter with $10.32 billion of revenue, with a great outlook due to GH200 Grace Hopper Superchip and L40S GPU announcements. The gaming segment reported a revenue of $2.49 billion, up by 11 percent compared to the previous quarter and up by 22 percent compared to the same quarter last year. Nvidia was keen to note that it is now shipping Geforce RTX 4060 series and added 35 DLSS games. Professional visualization revenue was at $379 million and the automotive segment reported a revenue of $253 million.
Nvidia expects revenue of $16 billion in Q3 2023 with a gross margin of 71.5 percent. This outlook means the company is on its way to yet another record quarter.