The post Nvidia Q1 earnings push NVDA stock to new all-time high appeared on BitcoinEthereumNews.com.

Nvidia earnings bests Wall Street consensus on top and bottom lines. Revenue rises 262% from a year ago due to revenue from data center products. NVDA stock rises near $998 per share, above $974 former all-time high. Dividend raised by 150% to one penny per share on post 10-for-1 split basis.   Nvidia (NVDA) earnings were a smash hit once again when they arrived after Wednesday’s market close. Shares blasted past the former $974 all-time high to reach just under $1,000 per share, up more than 4% afterhours. Nvidia earned $6.12 in adjusted earnings per share (EPS) on revenue of $26.04 billion. Both figures were far above the Wall Street consensus. Analysts had expected adjusted EPS of $5.58 on revenue of $24.6 billion, up from $7.2 billion a year earlier. Adjusted EPS rose 461% from a year earlier and 262% YoY on revenue. Data center revenue once again claimed the vast majority of growth, reaching  $22.6 billion. This figure rose 23% above the fourth quarter and 427% from a year ago. Nvidia management said it would institute a 10-for-1 stock split in June and raise its miniscule dividend by 150%. For the second quarter, Nvidia management said that it expects revenue of $28 billion, yet another quarterly record. Nvidia stock chart NVDA 15-minute stock chart   Nvidia FAQs Nvidia is the leading fabless designer of graphics processing units or GPUs. These sophisticated devices allow computers to better process graphics for display interfaces by accelerating computer memory and RAM. This is especially true in the world of video games, where Nvidia graphics cards became a mainstay of the industry. Additionally, Nvidia is well-known as the creator of its CUDA API that allows developers to create software for a number of industries using its parallel computing platform. Nvidia chips are leading products in the data center, supercomputing…

---

Filed under: News - @ May 23, 2024 2:22 am