Nvidia Surpasses Wall Street Profit and Sales Expectations Driven by Demand for Blackwell Chips

Nvidia reported an increase in its third-quarter profit and sales, driven by sustained strong demand for specialized computer chips that power artificial intelligence systems. For the three-month period ending October 27, Nvidia's revenue rose 94% to $35.08 billion, up from $18.12 billion a year ago. The company stated that it achieved a profit of $19.31 billion during the quarter, more than double the $9.24 billion reported in the third quarter of the previous year. Excluding one-time items, the earnings per share were $0.81.

Wall Street analysts had expected revenue of $33.17 billion and adjusted earnings per share of $0.75. However, investors found the results to be in line with expectations, and Nvidia's soaring shares dropped approximately 3.24% in after-hours trading. Nvidia Corp.'s stock has surged 195% so far this year. The company anticipates that its fourth-quarter revenue will reach $37.5 billion, while analysts are predicting an average of $37.09 billion.