US chipmaker Nvidia's revenue beats expectations

California-based chipmaker Nvidia exceeded market expectations with $13.51 billion in revenue in the second quarter of this year. Nvidia has published its balance sheet for the April-June period. Accordingly, the company's revenue in the second quarter of this year increased by 101 percent compared to the same period last year, reaching a record level of $13.51 billion. Nvidia, which also increased its revenue by 88 percent compared to the previous quarter, had $6.7 billion in revenue in the second quarter of 2022. The company's revenue during this period exceeded market expectations of $11.22 billion, while Nvidia announced its revenue expectation for the third quarter as $16 billion. Nvidia also announced that its data center revenues increased by 171 percent on an annual basis to $10.32 billion. The company's profit doubled in the second quarter Nvidia's net profit also increased by 203 percent quarterly and 843 percent annually, reaching approximately $6.2 billion during this period. Nvidia had announced a net profit of $656 million in the same quarter of 2022. The company's earnings per share, which was $0.26 in the second quarter of 2022, increased to $2.48 in the same period this year. Nvidia CEO Jensen Huang, whose statements were included in the statement, stated that a new computer era had begun and said, "Companies around the world are transitioning from general-purpose computers to accelerated computing and productive artificial intelligence." Nvidia's market value reached $1 trillion in May, driven by the increasing demand for artificial intelligence chips. The rise in the company's shares had also helped the shares of other chip manufacturers and companies developing artificial intelligence applications gain value.