After nearly two years of skyrocketing returns, Nvidia (NASDAQ: NVDA) seems to be finally taking a breather. The stock pulled back after-hours on Wednesday after a robust earnings report. Nvidia beat estimates, but by a more modest margin than investors are used to.

Revenue jumped 122% from the quarter a year ago and 15% sequentially to $30 billion, topping estimates at $28.7 billion. On the bottom line, adjusted earnings per share surged 152% year over year and 11% from the previous quarter to $0.68, ahead of the consensus at $0.64. That was the narrowest earnings beat the company has had since the generative artificial intelligence (AI) boom began.

Nvidia continued to benefit from soaring demand from cloud infrastructure companies, which accounted for 45% of its revenue. Moreover, the broader ramp toward accelerated computing and generative AI continued. The company also gave better-than-expected guidance for the third quarter, calling for revenue of around $32.5 billion, up 79% from the third quarter a year ago.

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Source Fool.com