Nvidia’s quarterly profits exceed $19 billion

New York. The American semiconductor giant Nvidia once again exceeded expectations for quarterly results and expects sustained growth for the last three months of its fiscal year, which ends in January.

Net profit reached 19.3 billion dollars, more than double that of last year in the same period and well above the 17.4 billion dollars expected by analysts.

Nvidia’s turnover in the third quarter of its fiscal year, ending in October, amounted to $35.1 billion, 94 percent more than last year in the same period.

In the first nine months of its fiscal year, Nvidia obtained a net profit of 50,789 million dollars, an improvement of 190.6 percent over the same period of the previous year, while revenues totaled 91,166 million dollars, 134.8 percent. further.

For the final quarter of its accounting year, Nvidia expects revenue to rise by 70 percent.

The results were highly anticipated by Wall Street, since the Californian group is the flagship of the generative artificial intelligence (AI) revolution.

Nvidia became the most valuable company on the stock market in November, after surpassing Apple, with a capitalization of about 3.48 billion dollars.

AI is transforming every industry, company and countrydeclared Nvidia founder Jensen Huang, quoted in a statement.

Nvidia shares, which have accumulated a rise in the year of 202 percent, closed Wednesday’s session with a decrease of 0.76 percent, although in trading after hours They fell up to 2 percent.

The United States Department of Commerce announced that it will provide $1.5 billion in aid to the company GlobalFoundries within the framework of the Chips Act to boost semiconductor production.

The funds released will be part of the financing of three factories that the group plans to build or modernize in the states of New York and Vermont. The total investment amounts to 13 billion dollars.