Home HomeSwedenLivingWorld 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

Major Banks Lower Mortgage Rates
1 MIN READ

Major Banks Lower Mortgage Rates

Major Banks Lower Mortgage Rates
1 MIN READ

Major Banks Lower Mortgage Rates

Central Bank Economist: Central Bank Cuts Interest Rate Too Late
2 MIN READ

Central Bank Economist: Central Bank Cuts Interest Rate Too Late

How You Are Affected by Lowered Interest Rates
2 MIN READ

How You Are Affected by Lowered Interest Rates

The Central Bank doubles down - uncertainty after Trump's victory
2 MIN READ

The Central Bank doubles down - uncertainty after Trump's victory

Inflation upswing does not threaten interest rate cuts
3 MIN READ

Inflation upswing does not threaten interest rate cuts

Stockholm Stock Exchange Rises at Opening
1 MIN READ

Stockholm Stock Exchange Rises at Opening

Most up on Asian stock exchanges
1 MIN READ

Most up on Asian stock exchanges

This is how your wallet can be affected by Trump's victory
2 MIN READ

This is how your wallet can be affected by Trump's victory

Cheerful on Wall Street after Trump win
1 MIN READ

Cheerful on Wall Street after Trump win

Thousand-kronor notes to be picked up when the Central Bank increases the pace
3 MIN READ

Thousand-kronor notes to be picked up when the Central Bank increases the pace

Swish up and running again after disruption
1 MIN READ

Swish up and running again after disruption

Trump's company is soaring on the stock exchange
1 MIN READ

Trump's company is soaring on the stock exchange

Swedish Export Threatened by Trump Victory
2 MIN READ

Swedish Export Threatened by Trump Victory

Sameby's appeal against mining company rejected
1 MIN READ

Sameby's appeal against mining company rejected

Inflation Expectations Fall
1 MIN READ

Inflation Expectations Fall

Better than expected for Novo Nordisk
1 MIN READ

Better than expected for Novo Nordisk

No "Trump Effect" on the Stockholm Stock Exchange
1 MIN READ

No "Trump Effect" on the Stockholm Stock Exchange

Stock Market Euphoria as Trump Heads for Victory
2 MIN READ

Stock Market Euphoria as Trump Heads for Victory

Rush on the Tokyo Stock Exchange after the election night
1 MIN READ

Rush on the Tokyo Stock Exchange after the election night