Nvidia delivered better-than-expected fiscal second-quarter results and issued revenue guidance above Wall Street forecasts, sending its shares 3.9% higher in after-hours trading.
The chipmaker reported adjusted earnings per share (EPS) of $2.22, compared with expectations of $2.09, while revenue reached US$96.22 billion, ahead of the US$92.27 billion forecast.
Nvidia sits at the centre of the artificial intelligence boom, with its chips powering the development and operation of some of the world's most advanced AI models. The company is also increasingly providing financial backing through guarantees and other arrangements that help new AI data centres secure funding and come online.
Nearly four years after the launch of OpenAI's ChatGPT, Nvidia continues to deliver rapid growth, with quarterly revenue more than doubling from US$46.7 billion a year earlier.
Chief Financial Officer Colette Kress told analysts that Nvidia expects fiscal 2028 revenue growth of 70%, well above the 44% forecast by analysts. Kress said customer forecasts "point to our growth doubling next year", although the company's outlook continues to reflect supply constraints.
Net income more than doubled to US$53.95 billion, or $2.22 per share, from US$24.76 billion, or $1.87 per share, in the year-ago period.
Despite a historic three-year rally, investor enthusiasm for Nvidia has cooled somewhat this year, with the stock up 13% as of Wednesday's close, only slightly ahead of the Nasdaq.
While demand for Nvidia's AI chips remains strong, competition is emerging from Advanced Micro Devices, Google and other rivals. The company is also facing surging memory costs as a global shortage shows little sign of easing.
Nvidia has a market capitalisation of about US$5.07 trillion.
