NVIDIA (NVDA) Q1 2024 Earnings Call + Q&A

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Read More Here: https://www.shacknews.com/article/135644/nvidia-nvda-stock-rise-q2-2024-forecast

There was good news for NVIDIA today as the company was the latest to report on its latest fiscal quarter. NVIDIA got off to a good start at the end of Q1 2024, putting up beats on revenue and earnings-per-share (EPS) expectations versus analyst estimates. However, arguably the biggest news could be found in NVIDIA’s guidance for Q2 2024. The company forecasted revenue for Q2 2024 well above analyst expectations and the stock jumped heavily in value on the forecast in after-hours trading.

NVIDIA put out its Q1 2024 earnings results on its investor relations website on May 24, 2023. According to the results, NVIDIA posted beats on both revenue and EPS. Previously, however, NVDIA had not provided guidance on its upcoming quarters or fiscal year. That changed with today’s reporting, and where analysts estimated a revenue outlook for NVIDIA’s Q2 2024 of around $7.2 billion USD, NVIDIA instead forecasted a revenue of $11 billion, more than 50 percent over expectations.

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