The semiconductor company has topped second-quarter revenue by $210 million. Its second-quarter revenue of $3.87 billion grew 50 percent from the previous year quarter. The revenue growth is driven by a sharp increase in gaming and data center revenue. Its gaming revenue of $1.65bn grew 26% from the past year period while data center revenue of $1.75bn surged 167% from the year-ago period. Growth in GeForce gaming accelerated as gamers increasingly immerse themselves in realistic virtual worlds created by NVIDIA RTX ray tracing and AI. Its second-quarter earnings per share of $0.99 declined 10% from the past year period. The company also appears in a strong cash position to support growth activities. Its operating cash flows for the first half came in around $2.4 billion. The company has paid $99 million in quarterly dividends. The market analysts are expecting Nvidia to make a big dividend increase in days to come. Susquehanna analyst Christopher Rolland has provided a street high price target of $540. The firm claims that the expected launch of Ampere gaming GPUs would generate additional revenue in the coming months. Oppenheimer has set Nvidia stock price target at $500, expecting a strong data center and AI demand. Wells Fargo has provided an outperform rating with a price target of $510.
