We’ve all become highly familiar with NVIDIA’s NVDA story over recent years, overall reflecting the poster-child for the AI trade thanks to its chips that are powering a huge part of the infrastructure buildout.
The company recently posted its latest set of quarterly results, wrapping up the period for the broader Mag 7 group as a whole. But were the results good or bad? Let’s take a closer look at Data Center results and headline figures.
NVIDIA Earnings
NVIDIA again posted robust growth in its latest release, with adjusted EPS of $1.87 more than doubling year-over-year alongside record sales of $81.6 billion that grew 85% from the year-ago period.
As expected, Data Center results throughout the period showed that everybody still wants their hands on the magical GPUs. Data Center sales of $75.2 billion again reflected a record, up 92% year-over-year.
Below is a chart illustrating its Data Center sales on a quarterly basis.
Image Source: Zacks Investment Research
Importantly, EPS revisions for its current and next fiscal year continue to show bullishness, a key factor concerning its share performance. While shares have undoubtedly slowed down relative to what we’ve seen over recent years, the reality remains that the company’s outlook remains robust. NVIDIA comes in at a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
Bottom Line
NVIDIA NVDA is largely unmatched as the backbone of the AI infrastructure buildout. Companies are still looking to spend heavily on chips, underpinned by ever-rising CapEx forecasts from those building out their data centers.
Zacks’ Research Chief Names “Stock Most Likely to Double”
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company’s customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners Up
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.