NVIDIA’s stock price is surging in pre-market trading hours in reaction to the company posting its latest earnings report and future outlook.
NVIDIA’s stock price is surging (again) in pre-market trading hours in reaction to the company posting its latest earnings report and future outlook. For NVIDIA’s fiscal first quarter for the three-month period ended April 30, 2023, the GPU firm’s revenue hit $7.19 billion, which is down 13 percent from a year ago but up 19 percent from the previous quarter. Its net income, meanwhile, soared to $2.04 billion. That’s a 26 percent year-over-year gain, and a huge 44 percent sequential jump.As has been the case for over a year now, NVIDIA’s biggest earner is its data center business, not gaming. Data center revenue tallied $4.28 billion for the quarter, a gain of 18 percent from the previous quarter and 14 percent from last year.Meanwhile, gaming revenue fell 38 percent year-over-year to $2.24 billion. That’s actually up 22 percent from the previous quarter and it still ranks as NVIDIA’s second-largest earner, but it’s a little more than half of what the data center pulled in.
