Nvidia shares rose more than 6% in extended trading after ER

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:

• Earnings: $5.15 per share, adjusted, versus $4.64 per share expected.
• Revenue: $22.10 billion, versus $20.62 billion expected.

Nvidia said it expected $24.0 billion in sales in the current quarter. Analysts polled by LSEG were looking for $5.00 per share on $22.17 billion in sales. 

Nvidia reported $12.29 billion in net income during the quarter, or $4.93 per share, up 769% versus last year’s $1.41 billion or 57 cents per share. 

Nvidia has been the primary beneficiary of the recent technology industry obsession with large artificial intelligence models, which are developed on the company’s pricey graphics processors for servers.

Nvidia’s total revenue rose 265% from a year ago, based on strong sales for AI chips for servers, particularly the company’s “Hopper” chips like the H100, it said.

 

Those sales are reported in the company’s Data Center business, which now comprises the majority of Nvidia’s revenue. Data center sales were up 409% to $18.40 billion.