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AI darling Nvidia (NVDA) reported a 265% year-on-year rise in revenue to $22bn (£17.4bn) in the three months to 28 January.
For the year, sales more than doubled to $60.9 billion. Nvidia also expects quarterly revenue to rise 233% this quarter, beating analyst expectations.
“Accelerated computing and generative AI have reached a tipping point, with demand surging around the world across companies, industries and nations,” said Jensen Huang, founder and CEO of the company. I’m doing it,” he said.
Nvidia shares rose 10% in after-hours trading.
Josh Gilbert, market analyst at trading platform eToro, said: “NVIDIA has had another explosive quarter showing that AI use cases are exploding and the AI boom shows no signs of slowing down. “We have reaffirmed our position in Cent7. This is a big issue for investors.” So, can this continue?
“The short answer is yes. NVIDIA continues to deliver on all fronts, and the results show there is still plenty of growth ahead. This is not just a flash in the pan or a bubble. , a business that continues to generate significant profits.”Despite risks from China issues and ongoing competition, and despite potential headwinds down the road, NVIDIA is forecasting revenue of 24 billion yen for next quarter. US dollar, putting it on track for nearly $100 billion in sales next year. ”
Nvidia announced that its gross profit increased 338% to $16.8 billion in the last three months of its fiscal year. Total profit for the year increased 188% to $44.3 billion.
Read how Nvidia’s fourth-quarter results set the stage for further dominance
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