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Follow on Google News | ![]() Fairview HK: AI Chip Leader Nvidia Again Delivers Big Beat-And-Raise ReportNvidia (NVDA) surpassed Wall Street's lofty expectations for its fiscal second quarter late Wednesday and projected higher than estimates for the current month.
In the fiscal quarter ended July 30, the Santa Clara, Calif.-based corporation earned an adjusted $2.70 per share on revenues of $13.51 billion. FactSet surveyed analysts, who anticipated Nvidia profits of $2.08 per share on $11.19 billion in revenue. Nvidia's profits increased 429% year on year, while sales increased 101%. Nvidia expects revenues of $16 billion in the current quarter, increasing 170% from the same time last year. Wall Street expected sales of $12.59 billion in the fiscal third quarter. "A new computing era has begun," stated CEO Jensen Huang in a press statement. "Companies all over the world are shifting from general-purpose computing to accelerated computing and generative AI." Nvidia's stock is at an all-time high. Nvidia's quarterly profit was driven by record data-center sales. In the second quarter, the company's data-center revenue rose 171% year on year to $10.32 billion. NVDA shares rose 9.5% to 516 in after-hours trading on the stock exchange today. NVDA shares rose 3.2% during the regular session on Wednesday, closing at 471.16. On Tuesday, Nvidia set an all-time high in regular-session trading of 481.74. Three months ago, Nvidia stock soared 24% the day after the firm reported a massive beat-and-raise report. Fairview HK Limited is one of the foremost privately owned Asia-Pacific orientated, boutique wealth management firms in Hong Kong. We offer our services to a selected group of families, family offices, institutions and fund managers, you may visit our website https://fairviewhk.com/ End
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