Behind Nvidia's Earnings Report

Alexangel Ventura
Aug 28, 2024
1 min read

Nvidia has just unveiled a massively consequential earnings report to the world on Wednesday afternoon.

The report showed an earnings per share rate at $0.67 and a massive $30 billion in total sales in the second fiscal quarter.

These quantities once again beat expectations. Many investors expected the company to report an earnings per share of $0.64 and quarter earnings of $28.6 billion.

In the afterhours following the report, Nvidia stock plunged. However, this stock will be a definitive buy for most investors. Do expect the stock to once again surge tomorrow.

Meanwhile, Nvidia CEO Jensen Huang announced his company's ramping up of production of its new AI "Blackwell" chips. The company has also unleashed another buy campaign for investors, preparing for the next market rally as early as tomorrow.

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Behind Nvidia's Earnings Report

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