Nvidia Inc. reported earnings for the second fiscal quarter that ended August 1, beating Wall Street estimates on strong graphics card sales.
Nvidia CMP's crypto-chip products, however, generated $266 million in sales less than the $400 million projected by the company in May.
Earnings per share amounted to $1.04, compared to expectations of about $1.01, while revenues amounted to $6.51 billion, compared to expected revenues of about $6.33 billion.
Nvidia is experiencing a period of explosive and sustained growth in its business as there is a worldwide shortage of semiconductors and demand for the type of processors the company specializes in is on the rise.
The company's revenue increased 68% annually during the quarter.
Graphics chips like Nvidia are growing in importance for a variety of technologies including gaming, artificial intelligence, and types of cryptocurrency mining.
Nvidia's graphics segment, which primarily consists of graphics cards, grew 87% to $3.91 billion, faster than the computing and network segment, which includes Slides for data centers.
Computing and networking grew 46% to $2.6 billion.
Nvidia has had supply problems since late last year, with most of its latest line of graphics cards still being sold out in stores, and the company said in May that it expects Supply problems during the second half of the year.
Nvidia's data center business has also hit an all-time high, growing 35% annually to $2.37 billion.
Investors are closely watching how Nvidia's business correlates with crypto prices.
Cryptocurrency revenue was less than expected, with $266 million in crypto card sales.
Nvidia said in May that its dedicated crypto-mining chips, called CMP, would have sales of about $400 million.
