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	170,884.59 165.82M	1.09% 1841.39
ALLSHR	103,297.23 574.85M	1.03% 1052.60
KSE30	50,883.00 85.37M	1.16% 585.22
KMI30	243,139.25 70.59M	1.05% 2522.69
KMIALLSHR	66,979.22 287.59M	0.99% 655.18
BKTi	47,642.11 15.25M	1.66% 776.54
OGTi	35,136.50 9.94M	0.68% 237.09

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,460.00	81,990.00 81,000.00	130.00 0.16%
BRENT CRUDE	103.37	105.00 101.92	-1.45 -1.38%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	5.00 4.00%
ROTTERDAM COAL MONTHLY	138.50	0.00 0.00	-0.15 -0.11%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	95.47	98.01 94.83	-1.76 -1.81%
SUGAR #11 WORLD	18.28	18.51 18.21	-0.04 -0.22%