(MENAFN - Baystreet.ca) NVIDIA Corporation (NASDAQ:NVDA) reported stronger-than-expected results for its second quarter.
The Santa Clara, Calif-based company reported revenue for the quarter of $2.58 billion compared with $3.12 billion a year earlier and $2.22 billion in the previous quarter.
GAAP earnings per diluted share for the quarter were $0.90, compared with $1.76 a year ago and $0.64 in the previous quarter. Non-GAAP earnings per diluted share were $1.24 compared with $1.94 a year earlier and $0.88 in the previous quarter.
"We achieved sequential growth across our platforms," said Jensen Huang, founder and CEO of NVIDIA. "Real-time ray tracing is the most important graphics innovation in a decade. Adoption has reached a tipping point, with NVIDIA RTX leading the way.
"NVIDIA accelerated computing momentum continues to build as the industry races to enable the next frontier in artificial intelligence, conversational AI, as well as autonomous systems like self-driving vehicles and delivery robots," he said
NVIDIA will pay its next quarterly cash dividend of $0.16 per share on September 20, to all shareholders of record on August 29.
The first priority of the company's cash balance is the purchase of Mellanox Technologies, Ltd.The company will return to repurchasing its stock after the close of the Mellanox acquisition.
Shares in NVDA perked $9.71, or 6.5%, to $158.48.