Nvidia more than doubled its revenue. Another record quarter didn't impress Wall Street

Nvidia's quarterly revenue more than doubled to $96.2 billion, surpassing analyst expectations. The company's net income was $59.69 billion, or $2.46 per share, compared to $26.42 billion, or $1.08 per share, in the same quarter last year, according to the Associated Press.

The revenue growth was driven by strong demand for Nvidia's high-end artificial intelligence chips, with data center revenue reaching $89 billion, up 117% from a year ago, as reported by Techmeme. The company's operating expenses surged 55% to $8.41 billion.

Nvidia forecast revenue of about $108 billion for the current quarter, according to the Associated Press, although Fortune reported a slightly different guidance of $91 billion plus or minus 2%. Despite the strong results, Nvidia's shares dipped after the announcement.

Brief written by urgent.news from Quartz, Associated Press, Techmeme, Fortune — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.