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Nvidia's quarterly report was better than expected

Semiconductor giant Nvidia's quarterly report was better than expected. But investors are not quite satisfied. The stock is falling in after-hours trading.

» Updated: September 04 2024

» Published: August 28 2024

Nvidia's quarterly report was better than expected
Photo: Jeff Chiu/AP/TT

After the New York Stock Exchange closed on Wednesday, Nvidia presented its highly anticipated report.

The report showed that the adjusted profit per share for the past quarter was $0.68, compared to analysts' expectations, which averaged $0.64, according to CNBC.

The revenue landed at $30 billion, while expectations were at $28.7 billion. Compared to the corresponding quarter last year, revenue has increased by 122 percent.

For the current quarter, the company expects revenue to land at $32.5 billion. Analysts had expected it to reach $31.8 billion, according to the analysis firm Street Account.

Nvidia's revenue from data centers increased by 154 percent from the same period last year to $26.3 billion. Expectations were at $25.2 billion.

The company also announced a large repurchase of shares worth $50 billion.

Investors were not satisfied with the report. Half an hour after its release, the stock had fallen by approximately 4.5 percent in after-hours trading on the New York Stock Exchange.

Nvidia's stock has so far this year increased by nearly 155 percent.

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By TTThis article has been altered and translated by Sweden Herald

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