Nvidia has a message for Wall Street: Relax, the AI train isn’t slowing down.
The world’s most valuable company by market cap reported its earnings for its fiscal fourth quarter on Wednesday, handily surpassing Wall Street forecasts.
Nvidia reported $68.13 billion of revenue for the quarter, compared to estimates of $65.91 billion. Earnings per share were $1.62, beating the consensus forecast of $1.53. In its key data center unit, Nvidia reported revenue of $62.3 billion, higher than estimates of $60.36 billion.
Looking ahead, Nvidia breezed past first-quarter analyst forecasts. It sees revenue of $76.44 billion to $79.56 billion, a range well above the estimated $72.78 billion.
Analysts ahead of the fourth-quarter call say they’ll be listening for comments from CEO Jensen Huang on the appetite for high-end AI chips and how the company is ramping production of its Rubin platform. The results come at a sensitive time for the AI trade, and analysts say Huang’s comments could be a catalyst to shake the market out of its rut.
Nvidia stock rose about 3% in after-hours trading. The stock closed 2% higher in Wednesday’s session.
The company’s analyst call is scheduled to start around 5 p.m. ET.
