Nvidia stock gains afterhours as AI revenue continues surging
Nvidia (NVDA) stock jumped over 4% afterhours on Wednesday after the company delivered a beat to fiscal third-quarter earnings. The AI chip powerhouse reported $1.30 in adjusted earnings per share (EPS) on $57 billion in revenue, up 63% YoY.
NVDA shares closed the regular session at $186.52 but surged above $193 afterhours.
Wall Street had projected that Nvidia would earn $1.26 per share in adjusted EPS on $55.09 billion.
Blackwell sales are off the charts, and cloud GPUs are sold out,” said CEO Jensen Huang. “Compute demand keeps accelerating and compounding across training and inference — each growing exponentially. We’ve entered the virtuous cycle of AI.”
Data Center segment revenue took up the lion's share of sales as expected, reaching $51.2 billion in Q3, up 66% from a year earlier.
Gross margins for the third quarter were close to 73%, but management expects that they reach 75% in Q4.
For Q4, Nvidia guided for $65 billion in revenue, well above the $61.8 billion consensus.
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Author
Clay Webster
FXStreet
Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.
