The suspense was riveting. Seldom if ever has an earnings report been more eagerly anticipated than Nvidia's release following the market close on August 23. The leading maker of data center gear used in A.I. systems delivered big-time, lifting its GAAP net profits an incredible $4.2 billion or 218% just during the three months ended July 30. That performance far exceeded analysts' already sumptuous forecasts, and CEO Jensen Huang lifted expectations for triumphs to come by pledging another 18% profit jump in Q3.
Those blowout numbers elicited heights of hyperbole on Wall Street. Analysts lauded Nvidia's "epic print [that's] simply unprecedented," its coup in "putting the bears back in hibernation," and its sudden rise to reign as "the most important company in civilization."
