Shares of Nvidia (NASDAQ:NVDA) gained in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at $0.88, which beat analysts’ consensus estimate of $0.81 per share.
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Sales decreased by 20.8% year-over-year, with revenue hitting $6.05 billion. This beat analysts’ expectations of $6.02 billion.
Looking forward, management now expects revenue for Q1 2023 to be in the range of $6.33 billion to $6.63 billion. For reference, analysts were expecting $6.32 billion in revenue.
Overall, Wall Street has a consensus price target of $233.73 on Nvidia, implying 13.24% upside potential, as indicated by the graphic above.