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Nvidia Corp. (NASDAQ: NVDA) reported its fiscal second-quarter financial results after markets closed Thursday. The company said that it had $1.01 in earnings per share (EPS) and $2.23 billion in revenue, compared with consensus estimates from Thomson Reuters that called for $0.70 in EPS and $1.96 billion in revenue. The same period from last year had $0.40 in EPS and $1.43 billion in revenue.

In terms of the outlook for the coming quarter, the firm expects to see revenues at $2.35 billion, plus or minus 2%. The consensus estimates are calling for $0.79 in EPS and $2.13 billion in revenue for the third quarter.

On the books, cash, cash equivalents, and marketable securities totaled $5.88 billion at the end of the quarter, compared with $6.80 billion at the end of the previous fiscal year.

Jensen Huang, founder and CEO of NVidia, commented:

Adoption of NVIDIA GPU computing is accelerating, driving growth across our businesses. Datacenter revenue increased more than two and a half times. A growing number of car and robot-taxi companies are choosing our DRIVE PX self-driving computing platform. And in Gaming, increasingly the world’s most popular form of entertainment, we power the fastest growing platforms – GeForce and Nintendo Switch.

Huang continued:

Nearly every industry and company is awakening to the power of AI. Our new Volta GPU, the most complex processor ever built, delivers a 100-fold speedup for deep learning beyond our best GPU of four years ago. This quarter, we shipped Volta in volume to leading AI customers. This is the era of AI, and the NVIDIA GPU has become its brain. We have incredible opportunities ahead of us.

Shares of Nvidia closed Thursday down over 4% at $164.74, with a consensus analyst price target of $145.20 and a 52-week range of $57.32 to $174.56. Following the release of the earnings report, the stock was down 6.5% at $154.00 in the after-hours trading session.