SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

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: 04 September 2024, 03:17

» Published: 28 August 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.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Amazon doubles investment in AI company
1 MIN READ

Amazon doubles investment in AI company

Trump nominates billionaire to finance minister
2 MIN READ

Trump nominates billionaire to finance minister

Cheerful on Wall Street – bitcoin nears dream limit
2 MIN READ

Cheerful on Wall Street – bitcoin nears dream limit

Northvolt to Apply for Swedish Reconstruction as Well
2 MIN READ

Northvolt to Apply for Swedish Reconstruction as Well

Billion Fines for Unreasonable Fees on Air Travel
1 MIN READ

Billion Fines for Unreasonable Fees on Air Travel

Bosch reduces workforce by 5,500
1 MIN READ

Bosch reduces workforce by 5,500

Northvolt's CEO sold shares for hundreds of millions
1 MIN READ

Northvolt's CEO sold shares for hundreds of millions

Clothing Chain Rises on the Stock Exchange After Sales Forecast
1 MIN READ

Clothing Chain Rises on the Stock Exchange After Sales Forecast

Seven disputed taxes that can save the planet
3 MIN READ

Seven disputed taxes that can save the planet

Visa facilitation to boost China's tourism
1 MIN READ

Visa facilitation to boost China's tourism

The Stockholm Stock Exchange closed the week on a bright note
2 MIN READ

The Stockholm Stock Exchange closed the week on a bright note

Japanese households receive part of billion package
1 MIN READ

Japanese households receive part of billion package

Airline Launches Thailand Route from Arlanda
1 MIN READ

Airline Launches Thailand Route from Arlanda

Slight increase in apartment building
1 MIN READ

Slight increase in apartment building

Northvolt's CEO is leaving: Should have slammed on the brakes
3 MIN READ

Northvolt's CEO is leaving: Should have slammed on the brakes

Strike hits French Cognac
1 MIN READ

Strike hits French Cognac

Upbeat in Japan – Gloomy in China
1 MIN READ

Upbeat in Japan – Gloomy in China

Took a tough stance on crypto companies - resigns
1 MIN READ

Took a tough stance on crypto companies - resigns

Ingvar Carlsson on PG: "A very loyal friend"
2 MIN READ

Ingvar Carlsson on PG: "A very loyal friend"

No Wage Guarantee in American Process
1 MIN READ

No Wage Guarantee in American Process