Nvidia’s profits and revenue nearly doubled to $19.3 billion and $35.1 billion, respectively, in the third quarter from the same period last year, the technology giant said in its earnings call on Wednesday. , after the markets closed on Wall Street.
The results for the third fiscal quarter ended October 27th represent an increase of 109% in profits compared to 9.2 billion in the same quarter last year and 94% in revenues compared to 18.1 billion in the same period last year , reflecting the high demand for the company’s artificial intelligence “chips”.
The numbers were above analysts’ forecasts, which expected sales of US$33.17 billion and a net profit of US$17.45 billion, according to a consensus of analysts consulted by FactSet, cited by the Wall Street Journal.
Along with the results, the company also released guidance for the fourth quarter, with revenues expected to be 37.5 billion, with a margin lower or higher than 2%.
At this point, the projections disappointed the highest expectations of analysts, who expected a sales projection of up to 41 billion, although the average estimate raised by Bloomberg was 37.1 billion.
The anticipated pace of revenue growth may also be disappointing some investors, as it predicts an annual increase of around 70%, which represents a slowdown from the 265% growth compared to the same period last year, says CNBC .
Markets reacted negatively, with Nvidia falling 2.68% in after-hours trading in New York shortly after the results were announced.
Even so, the company’s CEO and founder is optimistic. “The era of AI is advancing at full speed, driving a global shift in Nvidia computing,” says Jensen Huang in the earnings release, highlighting demand for Hopper AI chips and its successor, Blackwell, which is already in “full production”.
By sector, data centers, the company’s strongest area, saw revenues grow to 30.8 billion, an increase of 112% compared to the same period last year. Gaming and AI revenue for personal computers increased by 15% to 3.3 billion.
The results of the North American semiconductor giant for artificial intelligence were eagerly awaited by investors, as they were a barometer for the technology sector, which supported Wall Street’s gains for much of the year.
Source: www.jornaldenegocios.pt
