Nvidia sales grow 78% on AI demand, company gives strong guidance

Nvidia CEO Jensen Huang presents the Nvidia Blackwell platform at an event ahead of the Computex forum, in Taipei, Taiwan, on June 2, 2024. Nvidia reported fourth-quarter earnings on Wednesday after the bell that beat Wall Street expectations. The company also provided strong guidance for the current quarter. Shares were mostly flat in extended trading. Here's how the company did, compared with estimates from analysts polled by LSEG: Revenue : $39.33 billion vs. $38.05 billion estimated : $39.33 billion vs. $38.05 billion estimated Earnings per share: $0.89 adjusted vs. $0.84 estimated Nvidia said that it expected about $43 billion in first-quarter revenue, plus or minus 2%, versus $41.78 billion expected per LSEG estimates. The first-quarter forecast implies year-to-year growth of about 65% from a year earlier, a slowdown from 262% annual growth in the same period a year prior. Net income during the quarter rose to $22.09 billion, or 89 cents per diluted share, versus $12.29 bi ... Read full article.