Nvidia (NVDA) just blew earnings out of the water.
The company reported revenue of $13.51 billion, a 101% jump from last year, while adjusted earnings came in at $2.70 per share, up 429% from last year. Analysts had expected revenue to come in at $11.04 billion with EPS expected to come in at $2.07.
Then, the tech giant issued current quarter revenue guidance of $16 billion, which far outpaces expectations for $12.5 billion.
But wait, there’s more. Nvidia also reported data center revenue of $10.3 billion and gaming revenues of $2.5 billion, topping forecasts for $8 billion and $2.4 billion, respectively. The company also announced a new $25 billion share repurchase plan and said it intends to buy back stock during its current fiscal year. The company will also pay its next quarterly cash dividend of $0.04 per share on Sept. 28, to all shareholders of record on Sept. 7.
“A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” said Jensen Huang founder and CEO of NVIDIA. “During the quarter, major cloud service providers announced massive NVIDIA H100 AI infrastructures. Leading enterprise IT systems and software providers announced partnerships to bring NVIDIA AI to every industry. The race is on to adopt generative AI.”
NVDA was up about $14.50 a share during regular trading hours. In after-hours, the stock is up about $36 a share at $507.20.