Nvidia stock pops 7% to top $1,000 after earnings beat forecasts, it announces stock split and dividend hike
Will Nvidia's Surge Spark a Tech Rally?
Nvidia's stock surged 7% surpassing $1,000 after reporting Q1 earnings that exceeded expectations, announcing a 10-for-1 stock split and a dividend increase. The company achieved an EPS of $6.12 on $26 billion in revenue, significantly higher than analyst predictions. Future revenue projections also surpass expectations, with Nvidia anticipating $28 billion for the upcoming quarter.
What were Nvidia's reported adjusted earnings per share (EPS) and revenue for the first quarter, and how do these figures compare to the same quarter last year?
Nvidia's Financial Performance Comparison
Nvidia reported an adjusted earnings per share (EPS) of $6.12 and revenue of $26 billion for the first quarter. These figures represent significant increases from the same quarter last year, where the company reported an adjusted EPS of $1.09 and revenue of $7.19 billion. This demonstrates a year-over-year growth of 461% in EPS and 262% in revenue, highlighting a robust financial performance for the company.
How does Nvidia's first quarter revenue and EPS compare to analysts' expectations?
Nvidia's first quarter financial results exceeded analysts' expectations. The company reported an adjusted earnings per share (EPS) of $6.12 and revenue of $26 billion. These figures surpassed the forecasts by analysts who had anticipated an adjusted EPS of $5.65 and revenue of $24.69 billion, according to data from Bloomberg. This performance represents significant year-over-year growth, with the reported EPS and revenue showing increases of 461% and 262%, respectively.