Nvidia’s quarterly revenue hit a record $18.1 billion, and the company’s net profit increased nearly sixfold year-over-year. Almost all of Nvidia’s financial indicators beat analysts’ forecasts, all thanks to demand for AI chips.
Nvidia posted a record quarterly profit of $18.1 billion, as noted in the company’s financial report for the third quarter.
In the third quarter, Nvidia’s revenue grew 34% quarter-over-quarter and 206% year-over-year. At the same time, net profit increased even more significantly: 588% year-on-year to $10 billion.
The growth of financial indicators, which exceeded all analysts’ expectations, was facilitated by the high demand for chips for artificial intelligence.
Nvidia expects its financial performance to decline in the fourth quarter. This is due to a drop in sales in China due to the tightening of export restrictions by the United States.
Author:
Kirill Bilyk
Source: RB
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