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Results are in – NVIDIA reports

25 August 2022 By Klavs Valters

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Results are in – NVIDIA reports

NVIDIA Corporation (NVDA) announced its second quarter results after the closing bell in the US on Wednesday.

The US technology giant reported revenue that exceeded analyst expectations at $6.704 billion for the quarter vs. estimate of $6.699 billion.

Earnings per share reported at $0.51 per share, narrowly beating estimate of $0.50 per share for the second quarter.

”We are navigating our supply chain transitions in a challenging macro environment and we will get through this,” founder and CEO of NVIDIA, Jensen Huang said in a statement following the latest results.

”Accelerated computing and AI, the pioneering work of our company, are transforming industries. Automotive is becoming a tech industry and is on track to be our next billion-dollar business. Advances in AI are driving our Data Center business while accelerating breakthroughs in fields from drug discovery to climate science to robotics.”

”I look forward to next month’s GTC conference, where we will share new advances in RTX, as well as breakthroughs in AI and the metaverse, the next evolution of the internet. Join us,” Huang added.

NVIDA expects revenue of around $5.9 billion for the third quarter, which is short of analyst estimate of $6.9 billion for the quarter.

NVIDIA Corporation (NVDA) chart

 

 

Shares of NVIDIA were little changed on Wednesday, up by 0.24% at $172.12. The stock fell in the after-hours by around 3% on future outlook.

Here is how the stock has performed in the past year:

  • 1 month -3.19%
  • 3 months +1.46%
  • Year-to-date -41.44%
  • 1 year -22.47%

NVIDIA price targets

  • Truist Securities $216
  • Mizuho $250
  • Raymond James $240
  • Barclays $200
  • Deutsche Bank $175
  • Citigroup $285
  • Keybanc $230

NVIDIA Corporation is the 13th largest company in the world with a market cap of $429.17 billion.

You can trade NVIDIA Corporation (NVDA) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: NVIDIA Corporation, TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap

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