What happened
Shares of Nvidia (NVDA 3.71%) rose 4% on Thursday after the semiconductor titan delivered impressive second-quarter financial results.
So what
Nvidia's revenue surged 68% year over year to $6.5 billion. The chipmaker enjoyed broad-based growth, with sales in its data center and gaming segments increasing 35% and 85%, respectively.
"Nvidia's pioneering work in accelerated computing continues to advance graphics, scientific computing, and AI [artificial intelligence]," CEO Jensen Huang said in a press release.
Nvidia's sales and profits rose sharply in the second quarter. Image source: Getty Images.
Better still, Nvidia has done a solid job of reining in its operating expense growth. Combined with its revenue gains, these cost controls helped its adjusted operating income more than double to $3.1 billion. Nvidia's adjusted earnings per share, in turn, soared 89% to $1.04.
Now what
Looking ahead, management expects revenue to grow by roughly 44% year over year to $6.8 billion in the third quarter.
"Enabled by the Nvidia platform, developers are creating the most impactful technologies of our time -- from natural language understanding and recommender systems, to autonomous vehicles and logistic centers, to digital biology and climate science, to metaverse worlds that obey the laws of physics," Huang said.
Additionally, Nvidia remains confident that its $40 billion acquisition of chip design giant Arm Limited will be allowed to proceed.
"Although some Arm licensees have expressed concerns or objected to the transaction, and discussions with regulators are taking longer than initially thought, we are confident in the deal and that regulators should recognize the benefits of the acquisition to Arm, its licensees, and the industry," the company said.
