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Nvidia is Wall Street's 2nd-most valuable company. How it keeps beating expectations, by the numbers

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Nvidia has once again turned out quarterly results that easily exceeded Wall Street’s forecasts.

A sign for a Nvidia office building is shown in Santa Clara, Calif., Wednesday, Aug. 7, 2024. Nvidia has once again turned outs. The company has seen soaring demand for its semiconductors, which are used to power artificial intelligence applications.

Revenue more than doubled in the latest quarter from the same period a year earlier, Nvidia said Wednesday. The company expects further revenue growth in the current quarter that ends in October. Investors will be watching to see if demand for the company's products can maintain its red-hot pace.The company’s journey to be one of the most prominent players in AI has produced some eye-popping numbers. Here's a look.Nvidia’s total market value as of the close Wednesday.

Nvidia's revenue from its data center business for the quarter ended July 31, up 154% from a year ago. Overall revenue rose 122% from a year ago to $30 billion. By comparison, revenue growth for all the companies in the S&P 500 is expected to be about 5% for the latest quarter.Nvidia's estimate for overall revenue in the third quarter, “plus or minus 2%.” That translates to a range of $31.85 billion to $33.15 billion, compared to Wall Street's estimate of $31.7 billion.

Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

 

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