Arguably representing the most anticipated financial disclosure of the year so far, Nvidia Corp (NASDAQ:NVDA) faced mounting headwinds. Not only was the competition heating up in the graphics processing unit (GPU) space, serious questions were starting to emerge about the business viability of artificial intelligence. While AI has become widely integrated into society, many companies have recently begun sporting wild valuations, leading to fears of a sector bubble.
As it turns out — at least from a fundamental perspective — such apprehensions were unnecessary for Nvidia. Delivering another blockbuster performance, the semiconductor juggernaut reported third-quarter revenue of $57 billion, up 62% against the year-ago level. This figure also beat Wall Street analysts' consensus target of $54.88 billion. On the bottom line, the company posted earnings per share of $1.30, also beating the consensus view of $1.25.
