NVIDIA Earnings Report: Exceeded Expectations but Unable to Meet Everyone's Expectations
According to BlockBeats, on November 21, NVIDIA's sales soared in the most recent quarter, with profits nearly doubling, indicating a strong AI boom that has made the company the most valuable in the world. The financial report revealed that its third-quarter revenue was $35.10 billion, a quarter-over-quarter increase of 17%, exceeding FactSet's survey of analysts' forecasts. Profits reached $19.30 billion, also surpassing Wall Street's expectations.
In addition, the company expects its fourth-quarter revenue to be around $37.50 billion, also exceeding expectations, indicating that NVIDIA's next-generation AI chips are likely to be released in large quantities next year, driven by high demand from clients such as Microsoft, Google, Meta, and Musk's xAI. However, NVIDIA's stock price fell by as much as 5% in after-hours trading following the earnings report, as its performance did not meet the expectations of some investors after several quarters of soaring revenue and profits. (Jin Shi)
NVIDIA Earnings Report: Exceeded Expectations but Unable to Meet Everyone's Expectations
According to BlockBeats, on November 21, NVIDIA's sales soared in the most recent quarter, with profits nearly doubling, indicating a strong AI boom that has made the company the most valuable in the world. The financial report revealed that its third-quarter revenue was $35.10 billion, a quarter-over-quarter increase of 17%, exceeding FactSet's survey of analysts' forecasts. Profits reached $19.30 billion, also surpassing Wall Street's expectations.
In addition, the company expects its fourth-quarter revenue to be around $37.50 billion, also exceeding expectations, indicating that NVIDIA's next-generation AI chips are likely to be released in large quantities next year, driven by high demand from clients such as Microsoft, Google, Meta, and Musk's xAI. However, NVIDIA's stock price fell by as much as 5% in after-hours trading following the earnings report, as its performance did not meet the expectations of some investors after several quarters of soaring revenue and profits. (Jin Shi)
