Nvidia continued its long run of topping Wall Street expectations in its latest quarterly earnings report published Wednesday, setting multiple earnings records amid significant year-over-year gains in sales and net income.
NVIDIA reported earnings Wednesday afternoon. (Photo by Jonathan Raa/NurPhoto via Getty Images)
Nvidia reported $0.67 earnings per share and a record $30 billion in sales for its second fiscal quarter ending in July, beating analyst expectations of $0.64 and $28.6 billion, according to FactSet.
Nvidia’s $30 billion in sales marks a 122% increase from the same period last year.
Net income totaled $16.5 billion in its latest quarter, signaling another profit record for Nvidia after reporting $6.1 billion in the same period last year and $14.8 billion last quarter.
The tech giant’s datacenter division, the home of most of its artificial intelligence offerings, squashed analyst forecasts and raked in a record $26.3 billion in revenue, marking a 154% year-over-year increase.
Shares of Nvidia closed up/down 2.1% at $125.61 before lowering to $121.18 in after-hours trading following the publication of its earnings report.
This is a developing story. Check back for updates.
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