Nvidia Earnings Live: AI Chip Giant Beats Street Expectations on Profits, Sales

Nvidia exceeded Wall Street expectations in its first-quarter fiscal 2027 earnings report, posting adjusted earnings of $1.87 per share compared to the $1.76 forecast by analysts. Revenue climbed 85% year-over-year to $81.6 billion, surpassing estimates of $78.8 billion, with data center sales nearly doubling to $75.2 billion. The company projected even stronger growth ahead, with current-quarter revenue expected to reach $91 billion. CEO Jensen Huang described demand for Nvidia’s AI chips as 'parabolic,' attributing the surge to accelerating adoption across industries. He emphasized Nvidia’s role as 'the platform of this era,' highlighting its dominance in AI hardware. The company’s stock, which had dipped about 1% during the earnings call, had risen nearly 20% in 2024, outperforming both the S&P 500 and the Magnificent 7 tech stocks. Nvidia also provided updates on its product roadmap, confirming the Vera Rubin chip lineup—successor to Blackwell and Blackwell Ultra—is on track for a second-half 2024 launch. Huang stated that every major AI model developer plans to adopt Vera Rubin immediately, marking a shift from prior chip generations. The company expressed confidence in the new lineup’s success, citing early demand signals. Huang will discuss further details at the Computex tradeshow in Taipei on June 1, where he will deliver a keynote address. The company’s annual meeting is also scheduled later in June, offering additional insights into its strategic direction. Analysts will closely watch Nvidia’s performance as a barometer for AI spending trends in the broader tech sector.