📈THIS STOCK CRUSHED EARNINGS...
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Nvidia exceeded revenue and earnings expectations and raised guidance. This caused the stock to rally close to 10% after hours closing at $226. Here are the facts.
NVIDIA(NVDA) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.81 by 8.64 percent. The company reported quarterly sales of $6.05 billion which beat the analyst consensus estimate of $6.01 billion by 0.67 percent. The initial release sent the stock rocketing up 9.4% in 4 minutes.
The stock continued its rise after announcing raised guidance. Here are the facts.
Nvidia guided to first-quarter revenue of $6.5 billion, plus or minus 2%, and non-GAAP gross margins of 66.5%. This is higher than the street average of $6.3 billion and GAAP gross margins of 65%
Some of the highlighted conference call comments focused on AI. All the comments are by Jensen Huang CEO and founder of Nvidia.
“We are set to help customers take advantage of breakthroughs in generative AI and large language models. Our new AI supercomputer, with H100 and its Transformer Engine and Quantum-2 networking fabric, is in full production,"
"AI is at an inflection point, setting up for broad adoption reaching into every industry. From startups to major enterprises, we are seeing accelerated interest in the versatility and capabilities of generative AI," said Huang, founder and CEO of Nvidia.
"We are set to help customers take advantage of breakthroughs in generative AI and large language models. Our new AI supercomputer, with H100 and its Transformer Engine and Quantum-2 networking fabric, is in full production. Gaming is recovering from the post-pandemic downturn, with gamers enthusiastically embracing the new Ada architecture GPUs with AI neural rendering," Huang added.
“Gaming is recovering from the post-pandemic downturn, with gamers enthusiastically embracing the new Ada architecture GPUs with AI neural rendering,” said CEO Jensen Huang.
The report and conference call might be a nice jolt to semiconductors in general but for now watch how NVDA reacts to the $230 level
For a more in-depth look into NVDA , the key levels and what to watch out for today. Watch the first 2 minutes of the video below.
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