For Q2 revenue increased by 56% y/y yet OpEx only increased by 19% leading to 102% y/y rise in operating income and a 104% rise in net income. I really like those numbers. It’s great to see revenue rising so much faster than expenses.
Q2'18 Q1'18 Q2'17 q/q y/y
Revenue $2,230 $1,937 $1,428 Up 15% Up 56%
GM 58.6% 59.6% 58.1%
OpEx $533 $517 $448 Up 3% Up 19%
OpInc $773 $637 $382 Up 21% Up 102%
Net Inc $638 $533 $313 Up 20% Up 104%
EPS $1.01 $0.85 $0.53 Up 19% Up 91%
I felt the SP action was much more market-induced than fundamentally induced. Wall Street does not much care what you do just so long as you do something, the purpose of the whole great ruthless, shambolic, noisy dynamo.
Business-wise for Nvidia, ‘the dogs bark but the caravan moves on.’ I am ahead and as the growth entry on my ratio sheet was 17 anyway (whatever the company, I always have difficulty writing any more than that) the valuation held/improved and I stayed put.
It’s tech. though, so I remain an avid reader of comment. The competition ambush is somewhere… but where? Meanwhile, I am not yet ready to say ‘it’s too quiet’ in this box canyon.