NVIDIA Corp (NASDAQ:NVDA) stock rallies 15.41% (As on February 22, 11:23:35 AM UTC-4, Source: Google Finance) after the company posted stronger-than-expected results for its latest quarter, with its revenue more than tripling from a year earlier. The company based in Santa Clara, California, earned $12.29 billion, compared to a profit of $1.41 billion a year ago. The company’s specialized chips are key components that help power different forms of artificial intelligence, including the latest generative AI chatbots such as ChatGPT and Google’s Gemini. Nvidia carved out an early lead in the hardware and software needed to tailor its technology to AI applications, partly because Huang began to nudge the company into what was then seen as a still half-baked technology more than a decade ago. It also makes chips for gaming and cars.

Moreover, Data Center fourth-quarter revenue was a record $18.4 billion, up 27% from the previous quarter and up 409% from a year ago. Gaming fourth-quarter revenue was $2.9 billion, flat from the previous quarter and up 56% from a year ago. Professional Visualization fourth-quarter revenue was $463 million, up 11% from the previous quarter and up 105% from a year ago. Automotive fourth-quarter revenue was $281 million, up 8% from the previous quarter and down 4% from a year ago.

NVDA in the fourth quarter of FY 23 has reported the adjusted earnings per share of $5.16, beating the analysts’ estimates for the adjusted earnings per share of $4.59, based on analysts surveyed by FactSet Research. The company had reported the adjusted revenue growth of 265% percent to $22.1 billion in the fourth quarter of FY 23, beating the analysts’ estimates for revenue of $20.4 billion. For fiscal 2024, revenue was up 126% to $60.9 billion. GAAP earnings per diluted share was $11.93, up 586% from a year ago. Non-GAAP earnings per diluted share was $12.96, up 288% from a year ago.

Additionally, NVIDIA will pay its next quarterly cash dividend of $0.04 per share on March 27, 2024, to all shareholders of record on March 6, 2024.

For the current quarter, Nvidia expects revenue of about $24 billion. Analysts are currently expecting Nvidia to post revenue of $22.2 billion for the February-April period. for the first quarter of fiscal 2025, the gross margins are expected to be 76.3% and 77.0%, respectively, plus or minus 50 basis points and the operating expenses are expected to be approximately $3.5 billion and $2.5 billion, respectively.