Nvidia Pulls Through Crypto Winter — Quarterly Earnings Rise 16%

Major global chipmaker Nvidia, popular with cryptocurrency miners, has outstripped analysts’ expectations with its latest set of quarterly financials.

The firm’s Second Quarter Fiscal 2020, published on Aug. 16, revealed $2.58 billion in revenue at earnings of $1.24 per share — as compared with $2.2 billion in the preceding quarter.

Still 17% down from crypto-driven highs

While the latest results reveal a solid 16% increase over the previous quarter, year-on-year revenue remains down by 17%. Nvidia had earned $3.12 billion during the same period for the fiscal year 2019 amid massive demand for GPUs from cryptocurrency miners.

The firm’s outlook for the forthcoming quarter is a higher revenue of $2.9 billion, give or take 2 percent.

Alongside developments in its GPU output, the firm…

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