Nvidia Crushes Earnings with Record Revenue of $26 Billion

Nvidia's quarterly revenue has reached a record high of $26 billion, up 262% from the same period last year. The company's data center business was particularly strong, generating $22.6 billion in revenue, a 427% increase from the previous year.

The company's non-GAAP gross margin rose to 78.4%, while operating income increased to $16.9 billion. Nvidia guided revenue for the next quarter to be $28 billion, showing that management expects growth to continue at a high level.

Nvidia's balance sheet remains strong, with $31.4 billion in cash and marketable securities and $9.7 billion in long-term debt. The company's stock has been trading on Nasdaq under the symbol NVDA, and its market capitalization remains above the trillion-dollar threshold.