Nvidia Crushes Expectations with Blowout Quarter

Nvidia has posted a remarkable quarter, with revenue more than doubling to $96.2 billion and net income jumping 126% to $59.7 billion.

The results exceeded expectations from S&P Capital IQ, which had forecasted $92.1 billion in revenue and $51.2 billion in earnings for the period ended July 26.

Revenue from data centers, Nvidia's largest source of sales, rose a staggering 117% to $89 billion.

Nvidia is projecting revenue of $108 billion for its next reporting period, plus or minus 2%, which would be the first time it has exceeded $100 billion in a quarter.

Despite this impressive performance, Nvidia's shares fell slightly in after-hours trading, following a seven-day losing streak through Monday.