Nvidia (NVDA ) reported Q1 earnings for 2024 beating the analysts expectations. The Earnings per share (adjusted) were at $1,09 topping the analysts expectations of $0,92. The quarterly revenue came at $7,19 billion above the Wall Street forecasts of $6,52 billion.
Nvidia’s data center sector revenues came at $4.28 billion above the forecasts of $3.9 billion. Strong data center revenues boosted by strong demand for chips used in AI applications.
Revenue in the gaming division, came at $2.24 billion topping the expectations of $1.98 billion.
Nvidia (NVDA) Guidance
Nvidia now expects for the second-quarter of 2024 revenue of $11 billion, (+/-2%) above the analysts estimates of Q2 revenue of $7.17 billion. Revenues in the second quarter of 2024 was $6.7 billion. The company did not provide full 2024 guidance.
NVDA stock has gained 108,96% since the start of the year, while in the last three months the stock added over 47% in its market capitalization.
Nvidia stock has an all-time high of $346.47.
Earlier today Citigroup maintained NVIDIA at Buy rating and raised the NVIDIA price target from $305 to $363, while yesterday Wedbush Securities reiterated NVIDIA at Neutral and raised the price target from $216 to $290.
Nikolas has been involved in the finance industry for over fifteen years spanning across Europe and USA with a depth of knowledge and experience within many aspects of the financial markets. Nikolas gained several years experience with some of the Europe’s leading Brokers, as equity analyst, and trader managing accounts for both Private and Corporate Investors. He enjoys both the fundamental and technical aspects of trading focusing on stock markets and all FX majors. Currently, Nikolas provides analysis and comments to online financial publications. Educational background in Economics (BSc), and Finance (MSc).