NVIDIA has reported revenue for the second quarter ended 28 July 2019, of US$2.58bn compared with US$3.12bn a year earlier and US$2.22bn in the previous quarter.

GAAP earnings per diluted share for the quarter were $0.90, compared with $1.76 a year ago and $0.64 in the previous quarter. Non-GAAP earnings per diluted share were $1.24 compared with $1.94 a year earlier and $0.88 in the previous quarter.

“We achieved sequential growth across our platforms,” said Jensen Huang, founder and CEO of Nvidia. “Real-time ray tracing is the most important graphics innovation in a decade. Adoption has reached a tipping point, with Nvidia RTX leading the way.

“Nvidia accelerated computing momentum continues to build as the industry races to enable the next frontier in artificial intelligence, conversational AI, as well as autonomous systems like self-driving vehicles and delivery robots,” he said.

Nvidia will pay its next quarterly cash dividend of $0.16 per share on 20 September 2019, to all shareholders of record on 29 August 2019. The first priority for the company’s cash balance is the purchase of Mellanox Technologies. The company will return to repurchasing its stock after the close of the Mellanox acquisition. The regulatory approval process for this acquisition is progressing as expected, and Nvidia says it continues to work toward closing the deal by the end of this calendar year.