NVDA Hits All-Time High after Shattering Estimates
Market News

NVDA Hits All-Time High after Shattering Estimates

Shares of Nvidia (NASDAQ:NVDA) turned in hefty gains in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2024. Earnings per share came in at $1.09, which beat analysts’ consensus estimate of $0.92 per share.

Don't Miss out on Research Tools:

Sales decreased by 13.3% year-over-year, with revenue hitting $7.19 billion. This beat analysts’ expectations of $6.52 billion.

Nvidia turned in a record for its Data Center segment, reaching $4.28 billion. The Gaming segment added $2.24 billion in sales, though its overall revenue was down 38% against this time last year.

Nvidia management also offered guidance. For the second quarter, Nvidia expects revenue of $11 billion. That handily shatters the range expected by analysts, which was $7.11 billion.

Overall, Wall Street has a consensus price target of $307.37 on Nvidia, implying 1.85% upside potential, as indicated by the graphic above.

Disclosure

Related Articles
Gabe Ross‘Stay Long Ahead of Earnings,’ Says Top Investor About Nvidia Stock
Vince CondarcuriNvidia (NVDA) Rises amid Bullish Calls, but a New Challenger Is Emerging
TheFlyAnalyst tells Insider Nvidia’s Blackwell cooling issues have been resolved
Go Ad-Free with Our App