Data center revenue for the chipmaker came in at $10.3 billion while its gaming revenue hit $2.5 billion, beating estimates of $8 billion and $2.4 billion respectively. The company released a current quarter revenue guidance of $16 billion, plus or minus 2%, exceeding analysts’ expectations of $12.5 billion.

Nvidia’s recent surge came during the heat of the AI hype, with the chipmaker largely leading the charge. “A new computing era has begun,” CEO Jensen Huang stated following the earnings release. “Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI.”

The post Nvidia Stock Surges Following Quarterly Report appeared first on theprimarymarket.com.

Nvidia is expected to benefit from increased demands for their chips that were caused by the Artificial Intelligence race. Both high-profile companies and smaller developers are relying on Nvidia chips to power their AI platforms.

In the first quarter, Nvidia blew past analysts’ expectations, reporting $7.2 billion in revenue compared to an estimated $6.5 billion. It also raised its forecast for Q2, saying it expects revenue of $11 billion, while analysts predicted $7.3 billion.

The same outcome is expected in Q2, considering that the company was able to increase its margins thanks to the high demand.

“I anticipate that the results are going to look really outstanding because demand is so high, and that means Nvidia is able to command even higher margins than it would otherwise,” Forrester analyst Glenn O’Donnell told Yahoo Finance.

Most analysts raised the target price for Nvidia’s stock in recent days. UBS analysts have now set the target price from $475 to $540, while Baird’s analysts went even further, increasing the target price to $570 compared to the previous $475.

Nvidia’s stock opened at $404.98 per share on Monday morning but has climbed all the way to $439.04 through Wednesday. The company’s shares are 206.70% up year-to-date.

The post Nvidia Stock Continues to Climb As Q2 Earnings Are Expected to Outperform Estimates appeared first on theprimarymarket.com.

Nvidia’s $6.7 billion Q2 revenue matched the $6.7 billion expected, but its adjusted earnings per share missed on $0.53 estimated and came to $0.51. The Santa Clara, California-based company also had a net income of $656 million, representing a 72% year-over-year decrease.

For the third quarter of the year, Nvidia predicts that it will bring in $5.9 billion in revenue, falling $1 billion short of the $6.9 billion predicted by analysts. The biggest reason for Nvidia’s poor results and bleak expectations has been slumping sales in the gaming department. With the pandemic no longer keeping people inside the house, there are fewer reasons to invest in expensive gaming equipment, which directly impacts the chipmakers.

Nvidia shares closed at $172.22 on Wednesday, which represents a 42.2% drop year-to-date. After the Q2 results came out, the stock came down even further, trading for $164.40 in the after-hours market.

“We are navigating our supply chain transitions in a challenging macro environment, and we will get through this,” said Nvidia founder and CEO Jensen Huang in a statement.

The post Nvidia Stock Dips After Earnings Miss Wall Street Estimates appeared first on theprimarymarket.com.

Data center revenue for the chipmaker came in at $10.3 billion while its gaming revenue hit $2.5 billion, beating estimates of $8 billion and $2.4 billion respectively. The company released a current quarter revenue guidance of $16 billion, plus or minus 2%, exceeding analysts’ expectations of $12.5 billion.

Nvidia’s recent surge came during the heat of the AI hype, with the chipmaker largely leading the charge. “A new computing era has begun,” CEO Jensen Huang stated following the earnings release. “Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI.”

The post Nvidia Stock Surges Following Quarterly Report appeared first on theprimarymarket.com.

Nvidia is expected to benefit from increased demands for their chips that were caused by the Artificial Intelligence race. Both high-profile companies and smaller developers are relying on Nvidia chips to power their AI platforms.

In the first quarter, Nvidia blew past analysts’ expectations, reporting $7.2 billion in revenue compared to an estimated $6.5 billion. It also raised its forecast for Q2, saying it expects revenue of $11 billion, while analysts predicted $7.3 billion.

The same outcome is expected in Q2, considering that the company was able to increase its margins thanks to the high demand.

“I anticipate that the results are going to look really outstanding because demand is so high, and that means Nvidia is able to command even higher margins than it would otherwise,” Forrester analyst Glenn O’Donnell told Yahoo Finance.

Most analysts raised the target price for Nvidia’s stock in recent days. UBS analysts have now set the target price from $475 to $540, while Baird’s analysts went even further, increasing the target price to $570 compared to the previous $475.

Nvidia’s stock opened at $404.98 per share on Monday morning but has climbed all the way to $439.04 through Wednesday. The company’s shares are 206.70% up year-to-date.

The post Nvidia Stock Continues to Climb As Q2 Earnings Are Expected to Outperform Estimates appeared first on theprimarymarket.com.

Nvidia’s $6.7 billion Q2 revenue matched the $6.7 billion expected, but its adjusted earnings per share missed on $0.53 estimated and came to $0.51. The Santa Clara, California-based company also had a net income of $656 million, representing a 72% year-over-year decrease.

For the third quarter of the year, Nvidia predicts that it will bring in $5.9 billion in revenue, falling $1 billion short of the $6.9 billion predicted by analysts. The biggest reason for Nvidia’s poor results and bleak expectations has been slumping sales in the gaming department. With the pandemic no longer keeping people inside the house, there are fewer reasons to invest in expensive gaming equipment, which directly impacts the chipmakers.

Nvidia shares closed at $172.22 on Wednesday, which represents a 42.2% drop year-to-date. After the Q2 results came out, the stock came down even further, trading for $164.40 in the after-hours market.

“We are navigating our supply chain transitions in a challenging macro environment, and we will get through this,” said Nvidia founder and CEO Jensen Huang in a statement.

The post Nvidia Stock Dips After Earnings Miss Wall Street Estimates appeared first on theprimarymarket.com.