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NVIDIA profit misses consensus by 30.6% in fiscal Q2

NVIDIA Corp. said its normalized net income for the fiscal second quarter ended July 27 amounted to 17 cents per share, compared with the S&P Capital IQ consensus estimate of 25 cents per share.

EPS rose 47.8% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $98.2 million, an increase of 42.4% from $68.9 million in the year-earlier period.

The normalized profit margin increased to 8.8% from 7.1% in the year-earlier period.

Total revenue grew 12.9% on an annual basis to $1.10 billion from $977.2 million, and total operating expenses increased 7.8% from the prior-year period to $939.6 million from $871.7 million.

Reported net income rose 32.5% year over year to $125.5 million, or 22 cents per share, from $94.7 million, or 16 cents per share.