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

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

Add Mettisglobal as a Trusted Source on Google

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	179,571.27 436.67M	1.06% 1878.35
ALLSHR	108,600.94 844.23M	1.00% 1073.54
KSE30	53,548.42 162.02M	0.99% 525.53
KMI30	256,725.70 154.74M	0.76% 1936.43
KMIALLSHR	70,620.69 563.61M	0.98% 683.55
BKTi	48,625.03 36.31M	1.37% 658.39
OGTi	37,179.52 8.29M	0.94% 345.85

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	60,555.00	60,895.00 59,790.00	560.00 0.93%
BRENT CRUDE	73.08	75.13 71.38	-2.18 -2.90%
RICHARDS BAY COAL MONTHLY	103.50	0.00 0.00	0.25 0.24%
ROTTERDAM COAL MONTHLY	113.35	114.25 113.00	-0.05 -0.04%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	70.24	71.86 68.56	-1.68 -2.34%
SUGAR #11 WORLD	14.55	14.68 14.02	0.45 3.19%