The Santa Clara, Calif., company reported a net income of to $16.6 billion. Adjusted for one-time items, net income was $16.95 billion. Revenue rose to $30 billion, up 122% from a year ago and 15% from the previous quarter.By comparison, S&P 500 companies overall are expected to deliver just 5% growth in revenue for the quarter, according to FactSet. Still, Nvidia shares slipped nearly 4% in after-hours trading.
The company is now worth over $3 trillion.Nvidia CFO Colette Kress said during the analyst call that the company is planning to increase production of its Blackwell AI chips beginning in the fourth quarter and continuing through fiscal 2026. Kress said Nvidia expects several billion dollars in Blackwell revenue in the fourth quarter, with shipments of its Hopper graphics processor unit, or GPU, expected to increase in the second half of fiscal 2025.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nvidia stock slips even after earnings top Wall Street estimates and demand for AI chips surgesNvidia has led the artificial intelligence boom to become one of the stock market’s biggest companies, as tech giants continue to spend heavily on the company’s chips and data centers needed to tra…
Source: denverpost - 🏆 13. / 72 Read more »
Nvidia stock slips despite 2Q earnings topping Wall Street estimates, high AI chip demandNvidia may have exceeded Wall Street estimates as its profit jumped — buffeted by the chipmaking dominance that has cemented Nvidia's place as the poster child of the artificial intelligence boom — but investors seemed less than impressed.
Source: KPIXtv - 🏆 443. / 53 Read more »
Nvidia stock slips even after earnings top Wall Street estimates and demand for AI chips surgeNvidia has led the artificial intelligence boom to become one of the stock market’s biggest companies, as tech giants continue to spend heavily on the company’s chips and data centers needed to tra…
Source: denverpost - 🏆 13. / 72 Read more »
Stock futures are little changed as Wall Street looks toward Nvidia earnings: Live updatesStocks rose modestly on Tuesday, with Nvidia giving the S&P 500 and Nasdaq Composite a boost.
Source: nbcchicago - 🏆 545. / 51 Read more »
Wall Street analysts say buy the post-earnings dip in Nvidia sharesInvestors may want to consider using the weakness in Nvidia to scoop up shares, according to some Wall Street analysts.
Source: CNBC - 🏆 12. / 72 Read more »
Nvidia's earnings beat Wall Street's estimates as AI momentum continuesNvidia's second-quarter earnings beat Wall Street analysts' expectations, with total sales and revenue from data centers coming in ahead of estimates amid strong demand for AI chips.
Source: FoxBusiness - 🏆 458. / 53 Read more »