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Nvidia Exceeds Analyst Predictions with Soaring Earnings as Data Center Business Thrives


Nov 21, 2023

Nvidia’s third-quarter financials smashed analyst expectations, with huge growth in revenue and earnings. The company reported net income of $9.2 billion and diluted EPS of $3.71, up 1,274% from the prior year. Revenue also soared by 206% to $18.1 billion. However, despite these impressive figures, the company’s stock lost ground in after-hours trading as investors had even higher expectations.

Nvidia continues to dominate the AI chip space, with as much as 95% market share. The company’s data center revenue hit a record $14.51 billion, exceeding analysts’ expectations.

Looking ahead, Nvidia expects revenue of $20 billion plus or minus 2% in the fourth quarter. The company’s stock, which has more than tripled in the past year, reached an all-time high of over $504 per share just before the third-quarter earnings report. Despite export controls that could limit Nvidia’s products in China, the company has responded with new products designed for the Chinese market.

By Editor

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