Nvidia reported a net profit more than double compared to last year. Revenues exceeded analysts' forecasts.

Nvidia announced on Wednesday an impressive net profit of $59.69 billion, equivalent to $2.46 per share, for the May-July period, compared to $26.42 billion, or $1.08 per share, in the same period last year. Excluding certain items, earnings were $2.22 per share, exceeding analysts' expectations of $2.09.

The company's revenues rose to $96.22 billion, more than double from the previous year and above the average forecast of $92.27 billion. CEO Jensen Huang emphasized the importance of artificial intelligence, stating that it has reached an inflection point.

Although operating expenses increased by 55%, reaching $8.41 billion, Nvidia forecast revenues of approximately $108 billion for the current quarter, surpassing analysts' estimates of $104.86 billion. Recent results reflect Nvidia's continued success in cutting-edge technologies.