2023-05-24 21:08:00
U.S. semiconductor manufacturerNvidia shares soared in following-hours trading on Thursday. The company’s May-July (second quarter) sales forecast far exceeded market expectations. Strong demand for processors for artificial intelligence (AI) contributed.
on the same daystatementAccording to the company, sales for the May-July quarter are expected to reach approximately $11 billion (approximately ¥1.53 trillion).Shares were up 21% in following-hours trading following the close of regular trading, beating the average analyst estimate of $7.18 billion.
The outlook suggests that NVIDIA is getting more tailwinds than expected from the AI boom. Under co-founder and CEO Jensen Huang, the company has established itself as a leading supplier of components for AI software learning. It also helped the company weather a broader slowdown in tech spending.
“Enterprises are rushing to apply generative AI to every product, service and business process,” Huang said in a statement. will move to,” he said. The company said it is “significantly increasing supply to meet the surge in demand” for its data center products.
February-April sales beat market expectations by the widest margin in five years. The company’s sales outlook for the May-July quarter is 53% higher than analysts’ expectations and on track for a record quarter.
Soaring investment in AI boosted the performance of Nvidia’s data center division. Meanwhile, plummeting demand for personal computer (PC) components is still hurting the graphics chip business, weighing on overall sales.
Sales for the February-April quarter fell 13% year-over-year to $7.19 billion. It was the second straight quarter that sales fell more than 10%, but the fall in the February-April quarter was less than market expectations. Earnings per share, excluding certain items, were $1.09. Analysts had expected sales of regarding $6.5 billion and earnings of 92 cents a share.
NVIDIA’s sales forecast for the May-July quarter beats market expectations
Markets: The Close.”
Original title:Nvidia Soars After AI-Fueled Forecast Shatters Expectations (1)(excerpt)
(Add the CEO’s remarks and rewrite and update the whole)
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