Nvidia’s fiscal fourth-quarter earnings significantly exceeded analyst expectations, with revenue reaching $68.13 billion, according to a report released Wednesday evening. The results mark the company’s 11th consecutive quarter of revenue growth exceeding 55%, a streak fueled by surging demand for its artificial intelligence chips.
The reported revenue surpassed the $66.21 billion consensus estimate provided by LSEG, while earnings per share came in at $1.62, exceeding the anticipated $1.53. This translates to approximately a 70% increase in revenue compared to the same period last year.
Nvidia, currently the world’s most valuable publicly traded company with a market capitalization of over $4.5 trillion, derives roughly 90% of its revenue from its data center business, driven by the ongoing AI boom. The company’s success is closely tied to its position as a leading supplier of the specialized chips required for AI development and deployment.
The strong performance comes despite some Wall Street skepticism regarding the sustainability of AI spending. Nvidia’s forecast, however, points to accelerating growth, suggesting continued robust demand for its products. The company’s data center revenue specifically saw a 75% increase, further solidifying its dominance in the AI hardware market.
The Vera Rubin observatory, a new astronomical instrument, is as well utilizing Nvidia’s technology, highlighting the broadening applications of the company’s chips beyond traditional data centers.
