Nvidia presented the results corresponding to the third quarter, in which it obtained a net profit of US$9,243 million, which represents an increase of 1,259% from the 680 million reported in the same period of the previous year. This translates into earnings per share of US$3.71, above the US$0.27 a year ago and the US$3.37 anticipated by consensus.
The income in the period reached US$18,120 million, which represents a 206% increase in the year-on-year comparison and allows the firm to exceed forecasts of US$16.18 billion. Furthermore, the operating profit has been 10,417 million, well above the 601 million harvested in the same period last year.
The ‘Data Center’ division reported revenues worth US$14,514 million, which improved by 279% the figures from a year ago. Meanwhile, the ‘Gaming’ area contributed a turnover of US$2,856 million, above the 1,574 million reported in the same period of the previous year.
“Our strong growth reflects the broad industrial platform transition from general purpose to accelerated computing and generative AI“, he highlighted Jensen Huangfounder and CEO of Nvidia.
In that sense, it was added that “the great emerging companies of language models, consumer Internet companies and global cloud service providers were the first to move, and The next waves are starting to build.”
“National and regional CSPs are investing in AI clouds to meet local demandenterprise software companies are adding AI co-pilots and assistants to their platforms, and enterprises are creating custom AI to automate the world’s largest industries,” he said.
Nvidia: profits thanks to the artificial intelligence boom
During this period, the firm partnered with a variety of focused companies in AI initiatives including Amdocs, Dropbox, Foxconn, Genentech (a member of the Roche Group), Infosys, Lenovo, Reliance Industries, Scaleway and Tata Group.
The company will pay your next dividend quarterly cash of $0.04 per share on December 28 to all shareholders of record on December 6.
The firm also provided guidance for the fourth trimester, in which it expects revenue to rise to US$20 billion.
Nvidia: why it falls on Wall Street
However, Nvidia expressed concern about the state of the Chinese market, where many products “are now subject to licensing requirements.”
“We expect our sales to these destinations to decline significantly in the fourth quarter of fiscal 2024, although we believe the decline will be more than offset by strong growth in other regions,” he concluded. This warning is causing the value falls 2% on Wall Street.
Source: Ambito
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