NVIDIA (NASDAQ:NVDA) announced third-quarter earnings per share (EPS) of $4.02, surpassing the expected $3.36 by analysts. The quarter’s revenue reached $18.12 billion, exceeding the anticipated $16.18 billion.
Looking ahead, NVIDIA anticipates fourth-quarter revenue for 2024 to be around $20 billion, higher than the predicted $17.8 billion.
NVIDIA’s shares experienced fluctuations in premarket trading today. This came after the company, the largest semiconductor manufacturer globally, noted potential challenges in its China operations following the U.S.’s expanded export restrictions.
NVIDIA’s data center business, which generates 20%-25% of its revenue from China, might be impacted by the U.S.’s efforts to limit China’s access to AI technology. Nevertheless, NVIDIA’s Chief Financial Officer, Colette Kress, stated that the projected decrease in China would be more than compensated by strong growth in other regions.