NVIDIA Surges After Market After Q4 Earnings Beat
Feb 21, 2024 By MarketDepth
Nvidia (NVDA:NASD) reported fourth-quarter earnings that topped analyst estimates on both top and bottom lines. The company announced adjusted earnings per share of $5.16 beating an estimate of $4.60. Revenue also came in at $22.10 billion compared to estimates of $20.41 billion.
Nvidia is up over 30% YTD as the company has seen continuous growth with AI sector booming. The stock is up 9% aftermarket on the news.
“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations. Our Data Center platform is powered by increasingly diverse drivers — demand for data processing, training, and inference from large cloud-service providers and GPU-specialized ones, as well as from enterprise software and consumer internet companies. Vertical industries — led by auto, financial services and healthcare — are now at a multibillion-dollar level.”
Nvidia CEO Jensen Huang
