Nvidia's forecast for next year sent its stock soaring after the earnings report. What did the company promise?

In the next fiscal year, Nvidia's revenue will grow by about 70%—even though supply will still be unable to fully meet demand, the company's CFO, Colette Kress, said during the earnings conference call. The consensus forecast among analysts surveyed by Bloomberg had projected that the figure would increase by only about 45%.

Jensen Huang, the head of the chipmaker, clarified that demand growth is approaching 100%, and that the forecast depends on how much product the company will be able to ship.

Following these statements, Nvidia’s stock—which had fallen immediately after the release of its quarterly earnings report—rebounded and was up more than 4% at the time of this writing. If the stock manages to maintain this gain during the main trading session on Thursday, August 27, the company will break its long streak of price declines following earnings reports.

This news story is being updated.

This article was AI-translated and verified by a human editor