Nvidia more than tripled its sales last quarter and shared an optimistic outlook for the current quarter, but signalled to investors that US policies had dampened sales to China.
The company posted $22.1bn in revenue in the three months ended in January, a figure above analysts’ expectations and its own guidance. Nvidia also beat profit forecasts, notching $4.93 in diluted earnings per share.
While sales in its key data centre division beat estimates, the company said “sales to China declined significantly in the fourth quarter due to us government licensing requirements”.
Nvidia chief executive Jensen Huang said “accelerated computing and generative AI have hit the tipping point” and “demand is surging worldwide”.
The chipmaker shared a positive outlook for the current quarter, saying that it expected about $24bn in revenue, better than Wall Street analysts had predicted.
Shares of the company rose 6 per cent in after-market trading. Its stock has risen more than 35 per cent in 2024.
