Nvidia delivered another blockbuster quarter on Wednesday, beating Wall Street forecasts as global demand for artificial intelligence chips continued to surge across the tech industry.
The California-based chipmaker reported explosive growth in both revenue and profit during the February-to-April quarter, reinforcing its dominant position in the AI hardware market. The company posted revenue of $81.62 billion, an 85% jump from $44.01 billion during the same period last year.
Net income also climbed sharply. Nvidia said it earned $58.32 billion, or $2.39 per share, compared with $18.78 billion, or 76 cents per share, a year earlier. After excluding one-time items, adjusted earnings reached $1.76 per share.
Analysts surveyed by FactSet had expected earnings of $1.75 per share on revenue of $78.91 billion. Nvidia exceeded both targets.
The company’s latest results show how heavily major technology firms continue to invest in AI infrastructure, cloud computing, and advanced data centers powered by Nvidia’s high-performance chips.
“The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed,” said CEO Jensen Huang in a statement.
Investors closely watched Nvidia’s forward guidance, which also came in ahead of expectations. The company projected roughly $91 billion in revenue for the current quarter, surpassing analyst estimates of $87.29 billion.
That outlook signals continued momentum in the AI sector despite growing concerns that the industry’s rapid expansion could eventually slow after several years of aggressive spending.
Nvidia’s rise has been historic. Since the end of 2022, the company’s market value has surged from roughly $400 billion to $5.4 trillion as AI adoption reshaped the semiconductor industry and turned Nvidia into one of the world’s most valuable companies.
Still, investor reaction remained cautious after the earnings release. Shares dipped slightly in after-hours trading to $222.12 after closing the regular session at $223.47.
Some analysts said the market’s muted response reflects how high expectations for Nvidia have become.
“Time and time again, (Nvidia) obliterates expectations and consensus; it delivered exactly on what people wanted, especially regarding data centers,” said David Wagner, head of equity and portfolio manager at Aptus Capital Advisors. “But the market doesn’t always act as you would expect after a strong report like this one.”
The company also reported rising costs tied to its aggressive expansion. Operating expenses increased 49% year over year to $7.75 billion as Nvidia continued scaling production and investing in AI infrastructure.
Alongside the earnings report, Nvidia announced a major shareholder return program. The company authorized an $80 billion stock buyback plan and raised its quarterly cash dividend from 1 cent to 25 cents per share.
The move signals confidence from company leadership that demand for AI computing power will remain strong as businesses race to build new AI systems, data centers, and enterprise applications.
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