NVIDIA posts quarterly financial results, net income down 50 percent

The video game industry is a tough market and even established companies have a hard time. Today, the graphics card manufacturer, NVIDIA, announced its financial results for the second quarter of the fiscal yr. Unfortunately, they're not that skilful.

While the company didn't annals a loss, net income is down 50 percent and revenue is down 17 percent. You can read an excerpt from the financial report below.

NVIDIA today reported revenue for the 2d quarter ended July 28... of $ii.58 billion compared with $3.12 billion a year earlier... GAAP earnings per diluted share for the quarter were $0.xc, compared with $1.76 a year ago. Not-GAAP earnings per diluted share were $one.24 compared with $1.94 a year before.

Despite the fact that NVIDIA may not be selling as many cards, that didn't stop Jensen Huang, the founder of NVIDIA, from painting an optimistic motion picture. "We achieved sequential growth across our platforms," said Huang. "Real-time ray tracing is the most of import graphics innovation in a decade. Adoption has reached a tipping point, with NVIDIA RTX leading the way."

Next-generation consoles are around the corner and Microsoft claims that Project Scarlett features hardware-accelerated ray-tracing back up. It'll be interesting to see how AMD's implementation stacks up with NVIDIA's in the coming months.

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Source: https://www.windowscentral.com/nvidia-posts-quarterly-financial-results-net-income-down-50-percent

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