Nvidia Q2 Revenue Rises 68%, but Crypto-Related Earnings Fall Short of Expectations

The company generated $266 million in revenue from its crypto mining cards, more than $130 million below its forecast earlier this year.

AccessTimeIconAug 19, 2021 at 4:02 a.m. UTC
Updated Sep 14, 2021 at 1:42 p.m. UTC

Graphics-chip maker Nvidia said its second-quarter revenue jumped 68% from the same period a year ago, largely because of record performances of its gaming, data center and professional visualization products.

  • Revenue was $6.5 billion for the quarter, the company said in its earnings release Wednesday, an net income almost quadrupled to $2.37 billion from a year earlier.
  • To combat the global shortage supply of its cards, Nvidia announced the rollout of its Cryptocurrency Mining Processors in February, specifically targeting crypto miners.
  • While sales of its graphics processing units helped drive revenue, Nvidia fell short of its forecast of generating $400 million in revenue in the quarter from mining-related cards. Sales of Nvidia's crypto mining-related products totaled $266 million, the company reported.
  • Revenue from its data center and professional visualization platforms rose 35% and 156% respectively from the second quarter a year ago, while its gaming revenue increased 85%.
  • The company's share price fell 2.2% on Wednesday to $190.40.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.