HOT: NVIDIA 4Q REVENUE $22.1B as it beats earnings estimates KossyDerrickBlog KossyDerrickEnt

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Wednesday, February 21, 2024

HOT: NVIDIA 4Q REVENUE $22.1B as it beats earnings estimates

Information reaching Kossyderrickent has it that NVIDIA 4Q REVENUE $22.1B as it beats earnings estimates.

Nvidia Corp., which has seen its value skyrocket over the past year thanks to soaring demand for its graphics chips used for artificial intelligence, posted stronger-than-expected results Wednesday for its latest quarter, with its revenue more than tripling from a year earlier.

Nvidia reported revenue for its fiscal fourth quarter that ended Jan. 28 of $22.1 billion, up from $6.05 billion.

The overwhelming interest in Nvidia came largely due to its role in AI language models. Specifically, its graphic processors were necessary as servers for these AI models. Susbeuqnlety, the value of its stock has skyrocketed. Since 2022 the value has soared, surpassing Amazon and Alphabet breifley with a market cap value of more than $1.7 trillion.

Analysts had expected Nvidia to share a 240% increase in revenue reform one year ago. Furthermore, they predicted net income to increase to $10.5 billion in January, which would represent a seven-time increase. Ultimately, the outcome notes that the earnings surpassed those lofty expectations.

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