Nvidia reports 122% revenue growth on surging demand for data center chips
Nvidia reported earnings after the bell that beat Wall Street expectations, and provided stronger-than-expected guidance for the current quarter.
Nvidia reported earnings after the bell that beat Wall Street expectations, and provided stronger-than-expected guidance for the current quarter.
Nvidia shares fell 8% in extended trading.
Nvidia said it expects about $32.5 billion in current quarter revenue, versus $31.7 billion expected by analysts, according to StreetAccount. That would be an increase of 80% from a year earlier.
Revenue continues to surge at the chipmaker, rising 122% on an annual basis during the quarter, following three straight periods of year-over-year growth in excess of 200%.
Net income more than doubled to $16.6 billion, or 67 cents per share, in the quarter, from $6.18 billion, or 25 cents per share, in the year-ago period.
Rating: 5