Nvidia's record quarter fails to impress Wall Street

Nvidia reported record quarterly revenue of $96.2 billion, more than double last year's figure, but shares fell about 2% in after-hours trading Wednesday despite beating analyst expectations. Data center revenue reached $89 billion, up 117% year-over-year, driven by demand for its Blackwell Ultra infrastructure. GAAP earnings per share hit $2.46, up 128%, while non-GAAP EPS of $2.22 surpassed the $2.10 consensus estimate. The company forecast $108 billion in current-quarter revenue, below some analysts' projections above $110 billion. Nvidia returned approximately $26 billion to shareholders during the quarter and maintained a $99 billion repurchase authorization. Total commitments grew to $366 billion, including a $105 billion guarantee tied to a 20-year Ohio data center lease with OpenAI as tenant. The company also highlighted its Groq 3 LPX inference chip entering full production.