"Top Student" Nvidia Financial Report: Exceeds Expectations but Fails to Meet Everyone's Expectations

On November 21st, Nvidia's sales soared and profits nearly doubled in its latest quarter, a sign of the strength of the artificial intelligence boom that has made the company the world's most valuable company. The company reported revenue of $35.10 billion in the third quarter, up 17% quarter-on-quarter and beating analysts' forecasts surveyed by FactSet. The profit reached $19.30 billion, which also exceeded Wall Street's expectations. In addition, the company's fourth-quarter revenue forecast of about $37.50 billion also exceeded expectations, indicating that Nvidia's next-generation artificial intelligence chips are expected to be released in large quantities next year, which is in high demand from customers such as Microsoft, Google, Meta and Musk's xAI. However, Nvidia's share price fell as much as 5% after the earnings announcement, as Nvidia's results fell short of some investors' expectations after several quarters of surging revenue and profits.