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Nvidia earnings: Stock falls as guidance rises, but perhaps not enough
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Nvidia earnings: Stock falls as guidance rises, but perhaps not enough

Nvidia’s third-quarter data center revenue increased 112% year over year and rose 17.1% from the second quarter to $30.77 billion. That beat expectations above the FactSet consensus of $28.44 billion, marking the seventh straight quarter and the 19th in the last 20 quarters.

Half of data center revenue came from cloud service providers, with the rest coming from consumer internet and enterprise companies.

“Strong, sequential year-over-year growth was driven by demand for our Hopper computing platform for training and inferring large language models, recommendation engines, and generative AI applications,” said CFO Colette Kress.

Compute revenue in the data center business was up 132.1% from last year and increased 22.3% from the second quarter to $27.64 billion.

Meanwhile, network revenue was up 20% year-over-year but down 14.7% from last quarter to $3.13 billion.