NVIDIA Corporation (NASDAQ:NVDA) Q2 2021 Earnings Conference Call - Final Transcript
Aug 19, 2020 • 05:00 pm ET
Good afternoon. My name is David and I will be your conference operator today. At this time, I would like to welcome everyone to NVIDIA's Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.
Simona Jankowski, you may begin your conference.
Thank you. Good afternoon, everyone, and welcome to NVIDIA's conference call for the second quarter of fiscal 2021. With me on the call today from NVIDIA are Jen-Hsun Huang, President and Chief Executive Officer; and Colette Kress, Executive Vice President and Chief Financial Officer.
I'd like to remind you that our call is being webcast live on NVIDIA's Investor Relations website. The webcast will be available for replay until the conference call to discuss our financial results for the third quarter of fiscal 2021. The content of today's call is NVIDIA's property. It can't be reproduced or transcribed without our prior written consent.
During this call, we may make forward-looking statements based on current expectations. These are subject to a number of significant risks and uncertainties and our actual results may differ materially. For a discussion of factors that could affect our future financial results and business, please refer to the disclosure in today's earnings release, our most recent Form 10-K and 10-Q and the reports that we may file on Form 8-K with the Securities and Exchange Commission.
All our statements are made as of today, August 19, 2020, based on information currently available to us. Except as required by law, we assume no obligation to update any such statements. During this call, we will discuss non-GAAP financial measures. You can find a reconciliation of these non-GAAP financial measures to GAAP financial measures in our CFO commentary, which is posted on our website.
With that, let me turn the call over to Colette.
Thanks, Simona. Q2 was another extraordinary quarter. The world continue to [Indecipherable] the COVID-19 pandemic, and most of our employees continue to work from home. But through the team's agility and dedication, we successfully combined Mellanox into NVIDIA, while also delivering a very strong quarter.
Revenue was $3.87 billion, up 50% year-on-year, up 26% sequentially and well ahead of our outlook. Starting with Gaming, revenue was $1.65 billion, was up 26% year-on-year and up 24% sequentially, significantly ahead of our expectations. Net charge was broad-based across geographic regions, products and channels. Gaming's growth amid the pandemic highlights the emergence of a leading form of entertainment worldwide. For example, the number of daily gamers on Steam, a leading PC game online distributor, is up 25% from pre-pandemic levels, and NPD reported that U.S. consumer spending on video games grew 30% in the second calendar quarter to a record $11 billion. NVIDIA's PCs and laptops are ideal for the millions of people who are now working, learning and gaming at home.
At the outset of the pandemic, many retail outlets were closed and demand shifted to online