February 24, 2024
London, UK

Nvidia NVDA Q1 Earnings for 2024 Beat Expectations


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.

Previous Article

RSI Technical Analysis Indicator

Next Article

SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency

You might be interested in …

Rivian Nasdaq 100 Rivian Automotive

Here is Why Rivian Jumps 13% Today

Rivian stocks jump today after it reported that it produced 7,000 vehicles in the third quarter and will reach 25,000 vehicles in the full year 2022. So far in 2022, the company has produced 14,300 vehicles

TSLA Tesla

Tesla Vehicle Production & Deliveries for Q4

In the fourth quarter, Tesla produced over 439,000 vehicles and delivered over 405,000 vehicles. In 2022, vehicle deliveries grew 40% YoY to 1.31 million while production grew 47% YoY to 1.37 million.