NVIDIA Corporation Q2 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Total revenue reached 6.5 billion, up 68% year-over-year, marking record results across Gaming, Data Center, and Professional Visualization.
  • GAAP EPS was 0.94, up 276% year-over-year; non-GAAP EPS was 1.04, up 89% year-over-year.
  • Cash flow from operations hit a record 2.7 billion.

Gaming

  • Revenue of 3.1 billion, up 11% sequentially and 85% year-over-year.
  • Strong demand continued to far outpace supply; RTX adoption still in early stages with only ~20% of the installed base upgraded.
  • Laptop gaming demand was particularly strong, with OEM adoption of Ampere GPUs in record numbers.
  • More than 80% of Ampere-based GeForce GPUs shipped in Q2 were low-hash-rate models to steer supply away from crypto mining.
  • CMP (crypto mining processor) revenue was 266 million, below the original 400 million estimate due to weaker mining profitability.

Data Center

  • Revenue of 2.4 billion, up 16% sequentially and 35% year-over-year.
  • Growth driven by hyperscale customers and vertical industries, both reaching record levels.
  • Inference revenue more than doubled year-over-year.
  • A100 and A30 GPUs saw strong traction across cloud and enterprise workloads.

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Operator: Good afternoon. My name is Mel, and I will be your conference operator today. At this time, I would like to welcome everyone to NVIDIA's Second Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. [Operator Instructions] Thank you. Simona Jankowski, you may begin your conference. Simona Jankowski: Thank you. Good afternoon, everyone. And welcome to NVIDIA's Conference Call for the Second Quarter of Fiscal 2022. With me today from NVIDIA are Jensen Huang, President and Chief Executive Officer, and Colette Kress, Executive Vice President, and Chief Financial Officer. I'd like to remind you that our call is being webcast live on NVIDIA's Investor Relations website. The webcast will be available for replay until the conference call to discuss our financial results for the First Quarter of Fiscal 2022. The content of today's call is NVIDIA's property. It can't be reproduced or transcribed without our prior written consent. During this call, we may make forward-looking statements based on current expectations. These are subject to a number of significant risks and uncertainties, and our actual results may differ materially. For our discussion, the factors that could affect our future financial results and business, please refer to the disclosure in today's earnings release, our most recent Form 10-K and 10-Q, and the reports that we may file on Form 8-K with

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