Nvidia Stock Goes Parabolic After Chipmaker Reports Q1 Beat: AI Momentum Pushes Data Center Revenue To Record
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. reported Q1 earnings of $1.09 per share, beating the consensus estimate of 92 cents per share, and revenue of $7.19 billion, surpassing the Street estimate of $6.52 billion. The company's data center business, including AI chips, recorded revenue of $4.28 billion. Nvidia expects Q2 revenue of $11 billion, plus or minus 2%, compared to the consensus of $7.15 billion.
May 24, 2023 | 9:00 pm
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Nvidia's Q1 earnings and revenue beat estimates, driven by strong data center business. The company expects Q2 revenue of $11 billion, significantly higher than the consensus estimate.
Nvidia's Q1 earnings and revenue exceeded expectations, primarily due to the strong performance of its data center business. The company's Q2 revenue guidance is also significantly higher than the consensus estimate, indicating continued growth and positive momentum. This is likely to have a positive short-term impact on Nvidia's stock price.
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