Nvidia receives record quarterly revenue of $13.5 billion – Kommersant
[ad_1]
American technology company Nvidia published quarterly reporting with record highs. The company’s second-quarter revenue was $13.5 billion, up 88% from the first quarter and 101% from the same period in 2022. The revenue of the data center division was also a record – $10.32 billion. This is 141% more than in the first quarter, and 171% more than a year earlier.
GAAP earnings per diluted share increased 854% year on year to $2.48. All these figures, as reported Reuters, far exceeded the expectations of microprocessor industry analysts and indicate that the boom associated with the development of artificial intelligence technologies continues to strengthen the position of microprocessor manufacturers. Nvidia said in its earnings report that it intends to buy back an additional $25 billion in shares. The company’s share price has already tripled this year, and Nvidia has become the first microprocessor manufacturer to exceed $1 trillion in market value.
The value of Nvidia shares on the Nasdaq stock exchange after the publication of quarterly reports rose by 6.57%. In addition, Nvidia’s earnings boosted shares of other AI-related tech companies as well. So, shares of Microsoft in the course of electronic trading grew by 1.6%, Meta Platforms (recognized as extremist and banned in the Russian Federation) – by 2.33%, Palantir Technologies – by 4.6%.
[ad_2]
Source link
