AI Company’s Q2 Revenue Bests Wall Street Expectations
The post AI Company’s Q2 Revenue Bests Wall Street Expectations appeared on BitcoinEthereumNews.com. Topline The world’s most valuable company reported second-quarter earnings Wednesday that beat Wall Street’s expectations yet again, with investors seeking clues into how Nvidia fared with challenges in the China market. Nvidia published its Q2 earnings Wednesday afternoon. (Photo by I-Hwa Cheng / AFP) AFP via Getty Images Key Facts Nvidia reported $46.7 billion in second-quarter revenue, surpassing the chip designer’s sales record of $44.1 billion in the previous quarter and besting economist forecasts of $46.05 billion, according to estimates compiled by FactSet. A bulk of Nvidia’s top-line came from nearly $41.1 billion in data center revenue, which Morgan Stanley analyst Joseph Moore wrote Monday would drive Nvidia’s business over the next year, behind predictions of $41.3 billion. The AI firm brought in adjusted earnings per share of $1.05 and $25.78 billion net income, besting Wall Street’s projections of $1.01 EPS and $24.7 billion, respectively. Nvidia’s top- and bottom-line figures account for annual increases of 6% and 42%, respectively trumping the year-earlier totals of $30 billion and $0.67 EPS. Nvda Falls On Q2 Earnings Report Nvidia shares briefly fell 4% in after-hours trading following the release of the company’s earnings report. The stock hit an intraday high of $184.12 earlier this month, while Nvidia shares traded around $181 before market close Wednesday. What Investors Are Looking For In Nvidia’s Earnings Call Nvidia will host a call with investors at 5 p.m. EDT. Some analysts are looking for answers from CEO Jensen Huang about the Chinese government pressuring domestic companies not to buy the company’s H20 AI processors over national security concerns, leading Nvidia reportedly to halt production. Morgan Stanley believes this “remains an important issue to resolve long term,” though it would likely be resolved “with both countries incentivized to enable access to U.S. hardware,” Moore wrote. Kevin Cassidy, an…
The post AI Company’s Q2 Revenue Bests Wall Street Expectations appeared on BitcoinEthereumNews.com.
Topline The world’s most valuable company reported second-quarter earnings Wednesday that beat Wall Street’s expectations yet again, with investors seeking clues into how Nvidia fared with challenges in the China market. Nvidia published its Q2 earnings Wednesday afternoon. (Photo by I-Hwa Cheng / AFP) AFP via Getty Images Key Facts Nvidia reported $46.7 billion in second-quarter revenue, surpassing the chip designer’s sales record of $44.1 billion in the previous quarter and besting economist forecasts of $46.05 billion, according to estimates compiled by FactSet. A bulk of Nvidia’s top-line came from nearly $41.1 billion in data center revenue, which Morgan Stanley analyst Joseph Moore wrote Monday would drive Nvidia’s business over the next year, behind predictions of $41.3 billion. The AI firm brought in adjusted earnings per share of $1.05 and $25.78 billion net income, besting Wall Street’s projections of $1.01 EPS and $24.7 billion, respectively. Nvidia’s top- and bottom-line figures account for annual increases of 6% and 42%, respectively trumping the year-earlier totals of $30 billion and $0.67 EPS. Nvda Falls On Q2 Earnings Report Nvidia shares briefly fell 4% in after-hours trading following the release of the company’s earnings report. The stock hit an intraday high of $184.12 earlier this month, while Nvidia shares traded around $181 before market close Wednesday. What Investors Are Looking For In Nvidia’s Earnings Call Nvidia will host a call with investors at 5 p.m. EDT. Some analysts are looking for answers from CEO Jensen Huang about the Chinese government pressuring domestic companies not to buy the company’s H20 AI processors over national security concerns, leading Nvidia reportedly to halt production. Morgan Stanley believes this “remains an important issue to resolve long term,” though it would likely be resolved “with both countries incentivized to enable access to U.S. hardware,” Moore wrote. Kevin Cassidy, an…
What's Your Reaction?
