The Company reported an earnings-per-share (EPS) profit of $1.36 excluding non-recurring items versus consensus analyst estimates for a profit of $1.29, a $0.07 beat. On May 23, 2022, NVIDIA released its fiscal first-quarter 2023 results for the quarter ending April 2022. Prudent investors looking for a leading chip maker in future megatrends (gaming, AI, cryptos) can look for opportunistic pullbacks in shares of NVIDIA. The bar is set low moving forward and any reprieve in the Russian war or China lockdowns will bolster top and bottom line beats. The Company also extended its buyback program of up to $15 billion through December 2023. The CEO had stated that they are gearing for the largest wave of new products in its history in the second half of the year. From the metaverse, gaming, and cryptocurrency mining to artificial intelligence (AI) and robotics, NVIDIA chips are powering digital transformation and digital innovation forward. However, NVIDIA lowered its fiscal Q2 2023 guidance as nearly $500 million of shortfall is related to the Russian war and COVID lockdowns in China. Data center, which includes artificial intelligence (AI), revenues grew a whopping 83% to $3.75 billion hitting a new record as well as Gaming growth of 31% with $3.62 billion in sales.įrom the likes of it, the Company is operating on all cylinders despite inflationary pressures, supply chain disruption, and logistics issues. The leading maker of graphic processor units (GPUs) saw record growth as revenues rose 46.4% in its fiscal Q1 2023. Semiconductor giant NVIDIA NVDA stock is down (-48%) during the 2022 technology bear market.
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