Nvidia’s earnings are in — and Wall Street appears to be breathing a collective sigh of relief at better-than-expected revenue and guidance. The stock jumped 3% after hours following the results and rose higher still during the company’s call with analysts.
The AI chip maker reported revenue of $57 billion, beating Wall Street’s estimates of $55 billion. In its all-important data center unit, revenue was $51 billion versus estimates of $49.31 billion. Earnings-per-share clocked in at $1.30 compared to estimates of $1.26. The firm also topped fourth-quarter sales forecasts, projecting $65.0 billion in revenue compared to estimates of $61.98 billion.
Wall Street analysts were mostly upbeat heading into Wednesday’s report. Indications of continued demand for AI hardware will be the biggest driver of the market’s reaction as the analyst call gets underway. Any sign that the AI infrastructure buildout may be waning, or that data center customers have diminished appetite for high-end GPUs, will likely be another turning point in the narrative that’s propped up the market all year.
Nvidia’s earnings call with analysts kicked off at 5 p.m. ET. — follow along for the latest: