NVIDIA Earnings Report: Exceeds Expectations But Falls Short of Everyone's Expectations

BlockBeats News, November 21st, NVIDIA's recent quarter sales soared, with nearly doubled profits, a strong sign of the AI boom that has made the company the world's most valuable enterprise. The released financial report shows its third-quarter revenue of $35.1 billion, a 17% quarterly increase, exceeding analysts' expectations from FactSet. Profits reached $19.3 billion, also surpassing Wall Street's expectations.

Furthermore, the company's revenue forecast for the fourth quarter is around $37.5 billion, also exceeding expectations, indicating that NVIDIA's next-generation AI chips are expected to be widely released next year, driven by high demand from customers such as Microsoft, Google, Meta, and Musk's xAI. However, NVIDIA's stock price fell 5% in after-hours trading after the financial report was released, as after experiencing several quarters of skyrocketing revenue and profits, NVIDIA's performance did not meet the expectations of some investors. (Jinse)