NVIDIA’s Q1 earnings beat estimates, stock jumps 24%

MG News | May 25, 2023 at 02:39 PM GMT+05:00

0:00

May 25, 2023 (MLN): Nvidia (NASDAQ: NVDA) reported its earnings for the first quarter of 2023, wherein the revenue clocked in at $7.19 billion [EPS: $1.09], which was a huge beat compared to the estimate of $6.51bn [EPS: 0.92].

Following the release, the stock price of Nvidia surged by more than 20% in the after-hours session.

The company is now ranked number 6th in the world, worth $940bn.

Notably, the stock price broke the all-time high set in Nov 2022 of $346, and currently stands at around $380 in pre-market trading, up by 23.91% from yesterday’s close.

Nvidia’s stock price is up 170% year-to-date.

Jensen Huang, founder and CEO of NVIDIA stated that the company delivered record results in data center and gaming despite the challenging macro environment.

Rank	Company	Market capitalization (Trillion $)
1	Apple	2.7
2	Microsoft	2.33
3	Aramco	2.06
4	Alphabet	1.54
5	Amazon.com	1.2
6	Nvidia	0.94

JP Morgan raised target price of Nvidia to $500 from $250, while Barclays raised target price to $500 from $275

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	159,592.91 216.91M	0.31% 496.12
ALLSHR	97,116.33 768.06M	0.46% 445.03
KSE30	48,297.58 106.33M	0.31% 148.84
KMI30	228,607.02 68.07M	0.59% 1329.76
KMIALLSHR	63,247.23 258.39M	0.62% 387.33
BKTi	44,604.42 43.32M	0.63% 277.31
OGTi	30,819.67 8.30M	0.93% 283.08

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	104,160.00	104,220.00 99,425.00	2950.00 2.91%
BRENT CRUDE	63.69	64.39 63.23	0.31 0.49%
RICHARDS BAY COAL MONTHLY	87.25	0.00 0.00	0.10 0.11%
ROTTERDAM COAL MONTHLY	96.75	96.75 96.75	-0.20 -0.21%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	59.84	60.46 59.32	0.41 0.69%
SUGAR #11 WORLD	14.13	14.37 14.07	-0.06 -0.42%