Nvidia reported another quarter of results above market expectations and said sales are expected to rise by about 70% in the next fiscal year. According to a report cited by PANews from Jin10, Chief Financial Officer Colette Kress said the company is still constrained by supply, and revenue could even double next year if those limits did not exist. For the quarter ended July 26, Nvidia posted revenue of $96.2 billion, more than double from a year earlier, while net profit climbed to $59.7 billion, up 126% year over year. S&P Capital IQ data showed the market had expected about $92.1 billion in quarterly revenue and roughly $51.2 billion in net profit, both below the company’s actual results. Nvidia also projected about $108.0 billion in revenue for the next quarter, plus or minus 2%, ahead of Wall Street’s prior estimate of around $104.0 billion. If achieved, that would mark the company’s first quarter with revenue above $100 billion.
Nvidia (NVDA.O) posted another set of quarterly results above market expectations and said it expects sales to grow by about 70% in the next fiscal year, according to a Jin10 report cited by PANews.
Chief Financial Officer Colette Kress said Nvidia remains supply constrained. Without those supply limits, the company’s revenue next year could even double.
For the quarter ended July 26, Nvidia reported $96.2 billion in revenue, more than double from the same period a year earlier. Net profit rose to $59.7 billion, up 126% year over year.
Data from S&P Capital IQ showed the market had previously expected quarterly revenue of about $92.1 billion and net profit of about $51.2 billion. The company’s actual results came in well above both figures.
Nvidia said it expects revenue of about $108.0 billion in the next quarter, with a variance of 2% in either direction. That is higher than Wall Street’s earlier estimate of about $104.0 billion. If the target is met, it would be Nvidia’s first quarter with revenue exceeding $100 billion.
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