NVIDIA Demolishes Wall Street's Q2 Expectations
- August 23rd, 2023
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NVIDIA Corporation (Nasdaq: NVDA), a leading technology company specializing in graphics processing units and artificial intelligence solutions, reported second-quarter fiscal 2024 earnings of $2.70 per share, surpassing the consensus EPS estimate of $2.09. The company's quarterly sales reached $13.51 billion, exceeding analysts' projected revenue of $11.22 billion.
Looking ahead to the Q3 of fiscal 2024, NVIDIA anticipates revenue to be $16.00 billion, with a potential variance of plus or minus 2%, in contrast to the consensus estimate of $12.61 billion in revenue for the period.
Moreover, NVIDIA has authorized an additional $25.00 billion in share repurchases, without specifying an expiration date.
In after-hours trading, $NVDA was trading at $499.68, up $28.52 (+6.05%).
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