Nvidia’s sales for its latest quarter came in at $6.05 billion, beating Wall Street analyst expectations of $6.01 billion. Adjusted earnings per share of 88 cents came in above estimates of 81 cents. The chipmaker’s revenue guidance of $6.5 billion, plus or minus 2%, also came in above Wall Street expectations.
Since the beginning of 2023 Nvidia’s stock has risen 41% amid an overall rise in semis and the explosive interest in artificial intelligence (AI). The chipmaker on Wednesday it will now offer A.I. as a cloud service.
“A.I. is at an inflection point, setting up for broad adoption reaching into every industry,” said Jensen Huang, founder and CEO of Nvidia, in the company’s earnings release. “From startups to major enterprises, we are seeing accelerated interest in the versatility and capabilities of generative AI.”
Nvidia is seen as a leader in the A.I. space since its graphics cards are capable of handling large amounts of processing power necessary for A.I. platforms. The focus on the space is cheered by Wall Street as the company has faced a slowdown in the gaming market, one of its major businesses, following massive growth in the sector in 2021 amid the COVID-19 pandemic.
Stay tuned to Yahoo Finance Live as anchors Julie Hyman and Brad Smith provide instant analysis of Nvidia’s earnings call. You can tune in here.
Bumble’s fourth-quarter revenue grew 16% year over year to $241.6 million versus estimates of $235.8 million.
The dating-app company reported an adjusted loss per share of 85 cents, wider than the 3-cent loss per share expected by Wall Street. Bumble’s total paying users grew 15% year over year to 3.4 million, versus Wall Street expectations of 3 million.
Bumble’s results and relatively muted stock reaction in after hours are a sharp contrast from the company’s previous quarterly print.
Last year Bumble shares fell amid product launch delays and a slowdown in subscriptions as customers’ disposable income shrank due to inflation.
Etsy’s fourth quarter revenue of a record $807.2 million beat Wall Street…