Shares in the chipmaker were in correction territory in pre-market trading, as disclosures were overall neither hot nor cold.
Sales increased 78% year over year to $39.3bn (£31bn), above estimates, while net income surged to $22.1bn, up 80% from a year earlier. The group expects to report revenue of about $43bn for the current quarter.
Nvidia reported a 73% gross margin in the quarter, which was down three points on an annual basis. The company said the decline in gross margin was due to newer data centre products that were more complicated and expensive.
“The earnings were not a blowout, but they didn’t show any glaring vulnerabilities either,” Dec Mullarkey, managing director at SLC Management, told the Financial Times.
Chief financial officer Colette Kress said the company expects “a significant ramp” of sales of Blackwell, its next-generation AI chip, in the first quarter.
“Demand for Blackwell is amazing as reasoning AI adds another scaling law — increasing compute for training makes models smarter and increasing compute for long thinking makes the answer smarter,” said Huang.
“We’ve successfully ramped up the massive-scale production of Blackwell AI supercomputers, achieving billions of dollars in sales in its first quarter. AI is advancing at light speed as agentic AI and physical AI set the stage for the next wave of AI to revolutionize the largest industries.”
This earnings call was the first look at the company’s production and sales since China’s DeepSeek AI introduced an AI model that beat many of those made in the US while requiring a fraction of the training and investment.
The CRM software company dropped by over 5% in pre-market trading after it reported weaker-than-expected quarterly revenue on Wednesday and issued a forecast that fell short of analysts’ estimates.
For the quarter ending 31 January, Salesforce posted a 7.6% increase in revenue compared to the same period last year. Net income climbed to $1.71bn, or $1.75 per share, up from $1.45bn, or $1.47 per share, a year earlier.
The company’s subscription and support revenue, the largest revenue category, amounted to $2.33bn — an 8% increase but still below the $2.37bn consensus forecast from analysts surveyed by Visible Alpha. In the sales category, Salesforce generated $2.13bn in revenue, also up by 8%, but just shy of the expected $2.17bn.
In an effort to push forward its technological edge, Salesforce introduced its second-generation Agentforce artificial intelligence agent technology, designed to answer employee questions via the Slack communications platform. However, experts caution that while the potential is there, the rollout faces challenges.
"Given how poor initial generative AI experiments were for many companies, they're not just writing blank checks until Salesforce shows them Agentforce actually works," said Rebecca Wettemann, CEO of industry analyst firm Valoir.
"The next quarter or two will be critical for Salesforce."
Looking ahead, Salesforce issued a cautious revenue forecast for the coming quarters. The company expects revenue to fall between $40.5bn and $40.9bn for the full year, which is lower than the $41.35bn anticipated by analysts, according to data compiled by LSEG. The company also projected full-year adjusted earnings per share to fall between $11.09 and $11.15.
The AI data cloud company’s shares surged by 9% in pre-market trading after a 1% rise in regular trade as the company’s fourth-quarter earnings surpassed Wall Street expectations.
The company posted adjusted earnings per share (EPS) of $0.30, surpassing analysts' expectations of $0.17 by a margin of $0.13. Snowflake's revenue for the quarter came in at $986.8m, ahead of the consensus estimate of $956.22m, reflecting a 27% year-over-year (YoY) increase.
Product revenue, a key metric for Snowflake, totalled $943.3m, marking a 28% YoY rise. The company also reported a net revenue retention rate of 126% as of January 31, 2025.
"We delivered another strong quarter, with product revenue of $943m, up a strong 28% year-over-year," said Sridhar Ramaswamy, CEO of Snowflake. "Today, Snowflake is the most consequential data and AI company in the world."
The company also reported growth in its high-value customer base, with 580 customers generating trailing 12-month product revenue exceeding $1m — up 27% YoY. Snowflake now serves 745 Forbes Global 2000 customers, a 5% increase from the previous year.
Looking ahead, Snowflake forecasts a 21-22% YoY increase in first-quarter product revenue, projecting a range of $955m to $960m.
The company said that chief financial officer Michael Scarpelli will retire. He will remain in his role until a successor is found, and will then move into an advisory position.
Shares in the online supermarket plunged by over 13% in London as investors looked unconvinced after it reported a narrowed loss for its fiscal 2024, driven by an improved performance by the retail joint venture it co-owns with food and fashion retailer Marks & Spencer (MKS.L).
The online grocer and retail-technology specialist on Thursday posted a pretax loss for the 53 weeks ended 1 December of £374.5m ($474.5m) compared with a loss of £393.6m a year earlier.
At the core earnings, or adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), level, Ocado's preferred metric, the group made £153.3m, up from £51.6m in 2022/23.
Group-wide revenues rose 14.1% to £3.2bn, with its retail chain seeing growth of 13.9%.
The firm said it remains “engaged in constructive discussions” with Ocado Retail partner M&S over the final payment of £190.7m due in April this year under their agreement.
It stressed it would “continue to look to use all contractual or legal means available to us in order to maximise” the amount payable.
M&S is due to pay Ocado the final instalment as part of the payment for the £750m 50-50 tie-up between the businesses, Ocado Retail, which was launched in 2019.
But the joint venture failed to meet performance targets in 2023, leading to negotiations between the pair, with Ocado saying in February last year that it could take legal action against M&S over the payment.
Ocado revealed it has written down the value to zero in its full year accounts, “having considered the current facts and circumstances, and the inherent uncertainty around any of the potential outcomes”.
It said: “Notwithstanding this valuation, management is committed to maximising the amount due, and believes we have a strong negotiating position in achieving some form of satisfactory settlement.”
Full-year results for Ocado showed its robotic warehouse logistics arm grew revenues by 7.6% to £718m, with underlying earnings up £1m to £31.1m.
Shares in the British jet engine maker surged by 16% in London after it announced a £1.5bn return to shareholders, amid its first dividend payout since the coronavirus pandemic.
The FTSE 100 (^FTSE) company revealed on Thursday that its underlying operating profits had risen 55% in 2024, reaching £2.5bn, and it raised its earnings guidance for the future. Rolls-Royce reported underlying sales of £17.8bn for the year, a 15% increase compared to 2023. The company also generated £2.4bn in cash, nearly doubling the amount from the previous year.
The dividend will be worth 6p a share, or about £500m, to be paid in June 2025. That was combined with a £1bn share buyback.
The company’s underlying profit of £2.5bn significantly exceeded its previous forecast of £2.1bn to £2.3bn. Revenue of £17.8bn also surpassed analysts’ consensus of around £17.3bn.
Thanks to this performance, Rolls-Royce raised its medium-term targets, now projecting underlying operating profits of between £3.6bn and £3.9bn by 2028, and free cash flow in the range of £4.2bn to £4.5bn.
“We are moving with pace and intensity,” said chief executive Tufan Erginbilgic, highlighting the company’s ambitious plans for future growth.
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