{"id":16507,"date":"2024-08-29T11:58:49","date_gmt":"2024-08-29T08:58:49","guid":{"rendered":"https:\/\/forklog.com\/en\/nvidias-earnings-surpass-expectations-yet-shares-decline\/"},"modified":"2024-08-29T11:58:49","modified_gmt":"2024-08-29T08:58:49","slug":"nvidias-earnings-surpass-expectations-yet-shares-decline","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/nvidias-earnings-surpass-expectations-yet-shares-decline\/","title":{"rendered":"Nvidia’s Earnings Surpass Expectations, Yet Shares Decline"},"content":{"rendered":"

Nvidia reported<\/a> revenue of $30.04 billion for the second quarter, exceeding the anticipated $28.7 billion, yet the company’s shares fell by 7% in after-hours trading.<\/p>\n

\"Nvidia's
Nvidia’s stock performance following the quarterly report. Data: Yahoo Finance<\/a>.<\/figcaption><\/figure>\n
\n

\u201cBetter than expected is not good enough for Nvidia. Clearly, investors expect this company to exceed expectations,\u201d remarked<\/a> market commentator Lisa Abramowicz.<\/p>\n<\/blockquote>\n

The chipmaker’s revenue increased by 122% year-on-year in the second quarter. Previously, growth exceeded 200% for three consecutive similar periods.<\/p>\n

The company plans to achieve revenue of $32.5 billion in the current quarter compared to the $31.7 billion expected by analysts. This would be 80% higher than last year’s figures.<\/p>\n

\"Nvidia's
Nvidia’s revenue growth dynamics in percentage terms. Data: Reuters<\/a>.<\/figcaption><\/figure>\n

Net profit rose to $16.6 billion from $6.18 billion a year earlier, marking a 168% increase.\u00a0<\/p>\n

Nvidia has become a major beneficiary of the artificial intelligence boom due to high demand for its chips, which are used for training and supporting neural networks. In June, the company became the world’s most valuable by market capitalization, though it now trails Apple.<\/p>\n

The most in-demand chips are the H100 and H200. In July, Musk announced the imminent launch of an AI training system with 100,000 H100 processors from Nvidia. The company is already preparing to release the next generation of Blackwell chips.<\/p>\n

\n

\u201cIn the fourth quarter, we expect to generate several billion dollars in revenue from Blackwell,\u201d stated the firm’s CFO<\/span> Colette Kress.<\/p>\n<\/blockquote>\n

The company’s board of directors approved a $50 billion share buyback.<\/p>\n

Earlier, hedge fund Elliott Management claimed that Nvidia is in a \u201cbubble\u201d and that the AI technology driving the company’s stock price is \u201covervalued.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Nvidia reported revenue of $30.04 billion for the second quarter, exceeding the anticipated $28.7 billion, yet the company’s shares fell by 7% in after-hours trading. Nvidia’s stock performance following the quarterly report. Data: Yahoo Finance. \u201cBetter than expected is not good enough for Nvidia. Clearly, investors expect this company to exceed expectations,\u201d remarked market commentator […]<\/p>\n","protected":false},"author":1,"featured_media":16506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,1294,1252],"class_list":["post-16507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-nvidia","tag-reports"],"aioseo_notices":[],"amp_enabled":true,"views":"123","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16507"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16506"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}