From CNBC: 2024-05-22 21:18:05

Nvidia shattered earnings expectations for the fiscal 2025 first quarter with revenue surging 262% year-over-year to $26.04 billion and adjusted earnings per share increasing 461% to $6.12. The company also announced a 10-for-1 stock split, sending shares soaring in after-hours trading. Nvidia is a key player in the AI revolution. Quarterly results saw growth driven by enterprise and consumer internet companies, with large cloud companies accounting for a significant portion of data center revenue. Nvidia sees automotive as a major vertical growth opportunity this year and sovereign AI revenue approaching the high single-digit billions. The company expects continued strong demand for its Hopper chips and Blackwell shipments to start later this year. Software and services reached an annualized revenue rate of $1 billion, highlighting high-margin recurring revenue growth potential. Increased focus on China includes new products specifically designed for the region without export controls. Additionally, Nvidia projects a shift to a full-year of accelerated computing in sovereign AI.



Read more at CNBC:: Nvidia crushes earnings expectations, charts continued AI dominance