Nvidia 1Q24 Results - The AI Boom isn't over yet

[blueone]

Nvidia reports a 262% jump in sales, signals continuing AI boom

Nvidia reported fiscal first-quarter earnings on Wednesday that beat expectations for sales and earnings, and the stock rose in extended trading. Nvidia’s results have become a way for investors to gauge the strength of the AI boom that has transfixed markets in recent months. Its strong results on Wednesday suggest that demand for the AI chips Nvidia makes remains strong. The stock rose over 3% in extended trading. Nvidia said it was splitting its stock 10 to 1. Nvidia shares hit a record on Tuesday, closing at $953.86, before slipping Wednesday. Based on the after-market move, the shares are poised to reach a fresh high on Thursday.

https://www.cnbc.com/2024/05/22/nvidia-nvda-earnings-report-q1-2025-.html

 

[soAsian]

https://www.cnbc.com/2024/05/22/nvidia-nvda-earnings-report-q1-2025-.html

Bloomberg consensus data expectations YoY were:

400% earnings growth and
242% revenue growth.

The reality was

461% earnings growth (629% GAAP)
262% revenue growth.

78.9% gross margin.

maybe sam altman ain't wrong about that 7 trillion

 

[hist78]

Bloomberg consensus data expectations YoY were:

400% earnings growth and
242% revenue growth.

The reality was

461% earnings growth (629% GAAP)
262% revenue growth.

78.9% gross margin.

maybe sam altman ain't wrong about that 7 trillion

By this speed, Nvidia 2024 revenue can reach >$100 billion. It can be twice as much as Intel 2023 $54.2 billion revenue. It's an amazing achievement for Nvidia yet a little bit sad for Intel at the same time... There are several great market opportunities throughout the past 20 years but somehow Intel missed most of them.