Nvidia (NASDAQ: NVDA) 2Q20 Results: Beats Consensus, New AI Products for Language and Vehicles

Executive Summary

• Nvidia reported fiscal 2Q20 revenues of $2.58 billion, down 17.4% year over year and slightly ahead of the $2.55 billion consensus estimate. Adjusted EPS was $1.24, down 36.2% year over year and beating the $1.15 consensus estimate.
• Automotive was the fastest-growing segment, with revenues up 30% year over year, and revenues in gaming, Nvidia’s largest segment, beat consensus estimates.
• For fiscal 3Q20, the company guided for revenues of $2.8-3.0 billion, down 7-11% year over year, plus adjusted EPS of $1.48-1.64, in line with the $1.52 consensus estimate.