Posted 2/21/2024, 9:26:39 PM
Nvidia Soars Past Earnings Estimates on Booming Data Center and Gaming Demand
- Nvidia beat Q4 earnings and revenue estimates; reported $5.16 adjusted EPS on $22.1B revenue vs. expectations of $4.60 EPS on $20.4B revenue
- Guided higher than expected for Q1, sees $24B revenue (+/-2%) vs. $21.9B expected
- Data center revenue up massively year-over-year to $18.4B, driven by demand for data processing, AI, and cloud services
- Gaming revenue also beat at $2.9B vs. $2.7B expected
- Stock up over 200% in last 12 months due to Nvidia's leadership in AI chips, though facing rising competition from rivals AMD, Intel and cloud customers developing their own chips