Nvidia sees strong financial growth thanks to demand for AI technology
- Significant revenue growth:
- The company's $NVDA+4.0% revenue grew 122% on strong demand for data center chips, particularly for artificial intelligence.
- Beating earnings estimates:
- Earnings per share came in at 68 cents, beating estimates of 64 cents.
- Growth in the data center segment:
- Data center revenue grew 154% and accounted for 88% of total revenue, largely driven by AI processor sales.
- Share buybacks:
- The $NVDA+4.0% authorized an additional $50 billion in share repurchases, reflecting the company's confidence in future growth.
Solid results, but it's just not possible to always be perfect😂
Nice beat, but not enough for investors. The outlook was also lower than its upper bound by year-end. That was the main reason for the decline. It simply took even better numbers to defend the current capitalization.