Nvidia reported better-than-expected earnings and revenue , as the company’s booming data center business recorded year-over-year growth of 73%.
Overall revenue grew by 69% during the quarter, and sales in the company’s important data center division — which includes AI chips and related parts — grew 73% on an annual basis to $39.1 billion.
Net income increased 26% too $18.8 billion, or 76 cents per share, from $14.9 billion, or 60 cents per share, a year earlier.
The company’s gaming division, which includes its chips for playing 3D games, grew 42% on an annual basis to $3.8 billion.
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The most important division for Nvidia is its data center division, which includes AI chips as well as related parts, and which made up 88% of the company’s sales during the quarter. Nvidia said it had $39.1 billion in data center revenue, driven by demand for its AI chips for large language models, recommendation engines, and generative AI applications.
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Earnings per share: 96 cents adjusted vs. 93 cents estimated. Revenue: $44.06 billion vs. $43.31 billion estimated.
