Nvidia Surpasses Wall Street Expectations as Chip Demand Lifts Earnings
Nvidia has delivered another blockbuster quarter, with sales and profits far exceeding Wall Street estimates as demand for the processors used to build artificial intelligence systems continues to climb. For the three months through July, the chipmaker recorded net earnings of $59.69 billion, equivalent to $2.46 per share. A year earlier, the company earned $26.42 billion, or $1.08 per share. On an adjusted basis, profit reached $2.22 per share, beating analysts’ average projection of $2.09, according to FactSet. Revenue jumped to $96.22 billion, more than twice the figure reported during the same period last year. The result also topped the…