Nvidia beats earnings expectations and provides strong guidance, with revenue soaring 122% annually.

From CNBC: 2024-08-28 18:31:37

Nvidia beat earnings expectations and provided strong guidance for the quarter, with revenue soaring 122% annually.

The company reported earnings per share of 68 cents adjusted, exceeding the expected 64 cents, and revenue of $30.04 billion compared to the expected $28.7 billion.

Nvidia predicts current-quarter revenue of about $32.5 billion, an 80% increase from last year, led by an uptick in data center business at 154%.

The company’s market cap hit $3 trillion as it continues to benefit from the AI boom, with revenue increasing in all segments including gaming and automotive.

Nvidia announced $50 billion in share buybacks and plans to ramp up production of its next-generation chip called Blackwell.



Read more at CNBC:: Nvidia (NVDA) earnings report Q2 2025