NVIDIA Stock Skyrockets to All-Time High on Back of Stellar Earnings and Exceeding Forecasted Expectations


Introduction:Nvidia stock

Nvidia stock soars to record high as earnings, forecasts crush expectations.After the chipmaker beat expectations for its fiscal second quarter and provided upbeat guidance for the current quarter, Nvidia shares increased 6% in after-hours trade on Wednesday.

The company performed as follows during the quarter that ended on July 30:

  • Adjusted earnings per share of $2.70, exceeding Refinitiv’s expectation of $2.09 per share.
  • Revenue: $13.51 billion versus Refinitiv’s prediction of $11.22 billion.

Overview: Nvidia stock

Refinitiv had predicted $12.61 billion in revenue for the third quarter of the current fiscal year; Nvidia predicts roughly $16 billion. According to Nvidia’s forecast, sales will increase 170% from the same quarter last year. From $656 million, or 26 cents per share, a year earlier, net income increased to $6.19 billion, or $2.48 per share.

Strong sales and a positive outlook for Nvidia highlight how essential the company’s graphics processing units (GPUs) have become to the rise of generative AI. Building and running artificial intelligence (AI) applications like OpenAI’s ChatGPT and other services that accept simple text inquiries and respond with conversational answers or visuals require Nvidia’s A100 and H100 AI chips.

The second quarter’s revenue doubled from $6.7 billion a year earlier and rose 88% over the first.

On a conference call with analysts, Nvidia CEO Jensen Huang stated that “the world has something along the lines of about a trillion dollars worth of data centers installed, in the cloud, enterprise, and otherwise.” Data centers worth a trillion dollars are in the midst of switching to accelerated computing and generative AI.


Market Cap (intraday)1.16T
Enterprise Value1.16T
Trailing P/E237.85
Forward P/E58.14
PEG Ratio (5 yr expected)2.46
Price/Sales (ttm)44.03
Price/Book (mrq)46.00
Enterprise Value/Revenue44.70
Enterprise Value/EBITDA179.66
Yahoo Finance

The company reported revenue of $13.51 billion, a 101% increase over last year. Adjusted earnings per share were $2.70, a 429% increase over the previous year. According to information from Bloomberg, analysts had projected revenue to equal $11.04 billion and earnings per share to reach $2.07.


In addition, Nvidia provided revenue projections for the current quarter of $16 billion, plus or minus 2%, greatly exceeding Wall Street’s already high expectations of $12.5 billion.

In after-hours trading on Wednesday, shares of the manufacturer of graphics chips increased by as much as 9%, reaching a record high of $515 per share.

A new era in computing has arrived, according to Nvidia CEO Jensen Huang.

The use of accelerated computing and generative AI is replacing general-purpose computers in businesses all over the world.

Nvidia announced segment revenue of $10.3 billion from data centers and $2.5 billion from gaming, above the projections of $8 billion and $2.4 billion, respectively. Additionally, the business disclosed a fresh $25 billion share repurchase program and stated its intention to repurchase shares throughout the current fiscal year.

Investors were already anticipating a strong quarter from Nvidia when the firm announced that its latest revenue would be approximately $11 billion, plus or minus 2%.

About Nvidia Corp.

SectorElectronic Technology
CEOJen Hsun Huang
Headquarters Santa Clara
Employees 26.196k

A number of AI-related stocks rose in after-hours trading on Wednesday after software firms Snowflake (SNOW) and Nvidia both released quarterly results that exceeded expectations.
In after-hours trading, the prices of C3.ai (AI), Palantir (PLTR), Marvell Technology (MRVL), and MongoDB (MDB) all increased by more than 3%. Prior to the study, C3.ai and MongoDB had both decreased by about 10% in the previous month. The shares of Snowflake increased by more than 3% on Wednesday.

The International Data Corporation predicts that between 2022 and 2026, investment on AI would increase by an average of 27% annually.
“This build out is unlike anything we have seen since the Internet in 1995, and the ramifications are just starting to ripple through the consumer/enterprise landscape,” said Wedbush analysts in a statement.

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