"Just last night, Nvidia posted EPS of $1.30, which beat estimates by four cents. Revenue of $57 billion, up 62.5% year over year, beat by $1.91 billion. Data center revenue of $51.2 billion was up 25% quarter over quarter, and up 66% year over year. Analysts only expected NVDA to post EPS of $1.25 on $54.83 billion in sales, which would be a 56% jump year over year."
""Blackwell sales are off the charts, and cloud GPUs are sold out," said Jensen Huang, founder and CEO of NVIDIA. "Compute demand keeps accelerating and compounding across training and inference - each growing exponentially. We've entered the virtuous cycle of AI. The AI ecosystem is scaling fast - with more new foundation model makers, more AI startups, across more industries, and in more countries. AI is going everywhere, doing everything, all at once," as quoted in the earnings release."
The S&P 500 rose roughly 80 points, the Dow gained about 240 points, and the Nasdaq jumped about 412 points after Nvidia's results. Nvidia reported EPS of $1.30 and $57 billion in revenue, with data-center revenue of $51.2 billion, and projected about $65 billion in next-quarter revenue. Jensen Huang said Blackwell sales and cloud GPU demand are exceptionally strong and that AI compute demand is accelerating across training and inference. U.S. nonfarm payrolls increased by 119,000 in September, the unemployment rate rose to 4.4%, and average hourly earnings grew 0.2%. Market expectations for the timing and magnitude of Federal Reserve rate cuts have become more uncertain.
Read at 24/7 Wall St.
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