Nvidia Q2 Revenue Rises 68%, but Crypto-Related Earnings Fall Short of Expectations

Graphics-chip maker Nvidia said its second-quarter revenue jumped 68% from the same period a year ago, largely because of record performances of its gaming, data center and professional visualization products.

• Revenue was $6.5 billion for the quarter, the company said in its earnings release Wednesday, an net income almost quadrupled to $2.37 billion from a year earlier.
• To combat the global shortage supply of its cards, Nvidia announced the rollout of its Cryptocurrency Mining Processors in February, specifically targeting crypto miners.
• While sales of its graphics processing units helped drive revenue, Nvidia fell short of its forecast of generating $400 million in revenue in the quarter from mining-related cards. Sales of Nvidia's crypto mining-related products totaled $266 million, the company reported.
• Revenue from its data center and professional visualization platforms rose 35% and 156% respectively from the second quarter a year ago, while its gaming revenue increased 85%.
• The company's share price fell 2.2% on Wednesday to $190.40.