Topline
Nvidia posted $57 billion in revenue in its third quarter earnings, besting Wall Street expectations and sending its stock upward — despite fears of an artificial intelligence bubble rattling major tech stocks this week.
Nvidia CEO Jensen Huang is one of the world’s wealthiest people.
Photo by PATRICK T. FALLON/AFP via Getty Images
Key Facts
Nvidia reported $57 billion in revenue for its third quarter, coming in above the $54.9 billion analysts forecasted, according to FactSet data.
The majority of the company’s earnings came from data center sales, which came in at $51.2 billion, above expectations of $49 billion.
Nvidia also beat expected earnings per share of $1.26, reporting $1.30 in earnings per share, compared to $0.78 one year ago.
Shares of the chip designer jumped over 2% after it reported earnings, though shares are still down 3.7% in the last five days of trading.
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Forbes Valuation
We estimate Nvidia CEO Jensen Huang’s net worth at $162 billion, increasing by $4.4 billion Wednesday. He is the eighth-wealthiest person in the world.