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– moneysense.ca
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Nvidia earnings land on the moon—shareholders were aiming for the stars
Pretty much any other company in the world would be thrilled to post Nvidia’s quarterly earnings numbers, but right now Nvidia isn’t “any other company.”
Nvidia earnings highlights
All numbers below are in USD.
Nvidia (NVDA/NASDAQ): Earnings per share came in at $0.68 (versus $0.64 predicted), while revenues totalled $30.04 billion (versus $28.70 billion predicted).
Revenues were up 80% year over year. Net income was up 268%. Nvidia has so much extra revenue, it spent $50 billion to repurchase its own shares.
Despite the growth and overall earnings numbers, Nvidia shares were down 7% in immediate after-hours trading after the Wednesday close. It fell 6% on Thursday but was up 1.3% before trading began Friday. Other AI-linked chip stocks slipped in sympathy Thursday morning, with AMD, Broadcom and Micron falling 1…
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