NVIDIA has just posted its Q2 2015 financial results, beating analysts' expectations by a considerable amount. Analysts pegged NVIDIA to have revenues decline by 8%, but NVIDIA had an increase of 4.5% in revenues instead.
The increased revenues were thanks to strong GeForce sales, surely led by the super-impressive GeForce GTX 900 series of video cards. The company is expecting sales to drop in Q3, while NVIDIA's gaming revenue increased 59% thanks to big GeForce numbers. Wedbush Securities analyst Betsy Van Hees said: "The near term story continues to be PC gaming. That is the key driver for them and they continue to dominate in that area".
Another area where NVIDIA is working hard is in the automotive sector, where the company has said that there are 8 million cars on the road using their technology and that they're working with over 50 companies for its DRIVE chip, allowing self-driving cars.
In the enterprise market, NVIDIA's sales fell 14% but with this business only accounting for 16.2% of NVIDIA's business, it's not too bad. NVIDIA's total revenue rose 4.5% to $1.15 billion in Q2 2015, where analysts had expected $1.01 billion in sales. NVIDIA's shares have also bounced up by 9.7% in extended trading, a big increase considering that they had only risen 2% this year.
Last updated: Apr 6, 2020 at 08:33 pm CDT
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