Nvidia almost doubles its data center revenue as it powers to another solid earnings beat
Chipmaker Nvidia Corp., the world’s most valuable company, crushed expectations once again as it delivered its latest financial results, benefiting from massive demand for high-end artificial intelligence chips.
The company reported first quarter adjusted earnings of $1.87 per share, well ahead of the analyst target of $1.76 per share. Revenue for the period came to $81.62 billion, up 85% from the same quarter one year earlier and surpassing the analyst’s $78.86 billion consensus estimate.
Nvidia’s results have exceeded the analyst expectations that shape the market’s perceptions ever since its high-end chips emerged as the best building blocks for AI three years ago. The company’s button line has grown massively too. It reported total income of $58.32 billion at the end of the quarter, up from just $18.78 billion a year earlier.
“The buildout of AI factories, the largest infrastructure expansion in human history, is accelerating at extraordinary speed,” said Nvidia Chief Executive Jensen Huang (pictued).
