Revenue more than doubled in the latest quarter from the same period a year earlier, Nvidia said Wednesday. The company expects further revenue growth in the current quarter that ends in October. Investors will be watching to see if demand for the company's products can maintain its red-hot pace.
The company’s journey to be one of the most prominent players in AI has produced some eye-popping numbers. Here's a look.
$3.156 Trillion
Nvidia’s total market value as of the close Wednesday. It's ahead of Microsoft ($3.076 trillion) but behind Apple ($3.457 trillion) in the battle for most valuable company. One year ago, the company's market was around $1.15 trillion.
154%
Gain in Nvidia's stock price so far this year as of the close of trading Wednesday. The shares fell about 4% in after-hours trading following the release of the company's earnings.
30%
That's how much of the S&P 500’s gain for the year through June came only from Nvidia.
$26.3 billion
Nvidia's revenue from its data center business for the quarter ended July 31, up 154% from a year ago. Overall revenue rose 122% from a year ago to $30 billion. By comparison, revenue growth for all the companies in the S&P 500 is expected to be about 5% for the latest quarter.
$32.5 billion
Nvidia's estimate for overall revenue in the third quarter, “plus or minus 2%.” That translates to a range of $31.85 billion to $33.15 billion, compared to Wall Street's estimate of $31.7 billion. Revenue in the year-ago third quarter totaled $18.1 billion.
$121.1 billion
Analysts’ estimate for Nvidia’s revenue for the fiscal year that ends in January 2025. That would be about double its revenue for fiscal 2024 and more than four times its receipts the year before that.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
