On 22 May 2024 Nvidia delivers another crushing earnings beat, with data center chip sales rising 427%

The chipmaker has become synonymous with the artificial intelligence industry, with its stock seen as a yardstick to gauge the strength of that market. Today’s results suggest that demand for AI chips is not letting up. Nvidia Chief Executive Jensen Huang (pictured) told investors that the company expects sales to increase with the launch of its upcoming new graphics processing unit, called Blackwell, later this year. The company reported fiscal 2025 first-quarter earnings before certain costs such as stock compensation of $6.12 per share, easily beating Wall Street’s target of $5.59 per share. Revenue rose by a stunning 262%, to $26.04 billion, well ahead of the $24.65 billion forecast. Nvidia’s stock is currently priced at $1,005.95 per share, so a 10-for-1 split based on that price would mean individual shares are priced at $100.59. The company said the split is designed to make its stock accessible to a wider swath of retail investors. The price of Nvidia’s stock has gained more than 25 times in the last five years, and it means that buying a single share has become quite pricey for many retail investors.

On 22 May 2024 Nvidia delivers another crushing earnings beat, with data center chip sales rising 427%

On 22 May 2024 Nvidia delivers another crushing earnings beat, with data center chip sales rising 427%

RECENT POST