Nvidia Q3 Results: Stock declines even as revenue nearly doubles; guidance fails to meet expectations

Nvidia Q3 Results: Nvidia delivered blockbuster third-quarter results on Wednesday, with revenue nearly doubling amid unrelenting demand for its artificial intelligence chips. However, the company’s stock fell as much as 3% in limited after-hours trading, reflecting investor hesitation despite an improved outlook.

The company posted revenue of $35.08 billion for the quarter ending October 27, a staggering 94 per cent increase from $18.12 billion in the same period last year. Net income soared to $19.31 billion, more than doubling from $9.24 billion a year ago.