Nvidia Sales Surge 262%, Signals AI Boom, Announces 10-for-1 Stock Split
Revenue: The company generated $26.04 billion in revenue, surpassing the expected $24.65 billion.
Net Income: Nvidia’s net income soared to $14.88 billion, or $5.98 per share, a dramatic increase from $2.04 billion, or 82 cents per share, in the same period last year.
Future Projections
For the current quarter, Nvidia forecasts sales of $28 billion, outpacing Wall Street’s expectations of $26.61 billion in revenue and an EPS of $5.95. This optimistic outlook suggests sustained momentum in the AI market.
Business Segments Performance
Data Center: Nvidia’s data center segment, encompassing AI chips and related components, saw a remarkable 427% year-over-year increase in revenue, reaching $22.6 billion. This surge was primarily driven by the success of its “Hopper” graphics processors, including the H100 GPU.
Networking: Revenue from networking products, particularly Infiniband, tripled compared to last year, totaling $3.2 billion. This growth reflects the rising importance of interconnected chip clusters in AI server infrastructure.
Gaming: Although traditionally known for gaming hardware, Nvidia’s gaming segment also performed well, with revenue up 18% to $2.64 billion.
