NVIDIA CORPORATION Reports Record-Breaking Earnings Results for FY2024 Q2

🌥️Earnings Overview

For the second quarter of fiscal 2024, which ended on July 31 2023, NVIDIA CORPORATION ($NASDAQ:NVDA) reported total revenue of USD 13507.0 million, an impressive 101.5% increase from the same period the previous year. Net income for the quarter reached USD 6188.0 million, in contrast to the USD 656.0 million reported in Q2 FY2023. The results were announced on August 23 2023.

Price History

On Wednesday, NVIDIA CORPORATION reported record-breaking earnings results for the fiscal year 2024 second quarter. The company’s stock opened at $458.7 and closed at $471.2, up by 3.2% from the last closing price of $456.7. This is the second consecutive quarter that the company has reported positive earnings results and is a testament to their strong performance over the past year.

Additionally, the company announced plans to expand its product portfolio with new and innovative products that will continue to drive growth in the coming years. Investors have responded positively to the news and have pushed NVIDIA CORPORATION’s stock price higher. This strong performance is a result of the company’s ability to consistently deliver on its goal to develop cutting-edge technologies and products. With the potential for further gains in the future, investors are likely to remain optimistic about the company’s prospects. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Nvidia Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Nvidia Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Nvidia Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Nvidia Corporation are shown below. More…

Analysis

GoodWhale recently conducted an analysis of NVIDIA CORPORATION‘s wellbeing. We used our Star Chart to evaluate the company’s performance, which revealed a strong score in assets, dividends, growth, and profitability. We gave NVIDIA CORPORATION a health score of 10/10 for its cashflows and debt, indicating that it is capable of safely riding out any crisis without the risk of bankruptcy. Based on our analysis, we classified NVIDIA CORPORATION as a ‘rhino’. This type of company typically has achieved moderate revenue or earnings growth. Consequently, investors looking for a steady return on their investment with minimal risk may be interested in such a company. NVIDIA CORPORATION’s low debt and strong growth parameters make it an ideal option for these investors. More…

Peers

Nvidia Corporation is an American technology company headquartered in Santa Clara, California. It designs graphics processing units (GPUs) for the gaming and professional markets, as well as system on a chip units (SOCs) for the mobile computing and automotive market. Nvidia’s primary GPU product line, labeled “GeForce”, is in direct competition with Advanced Micro Devices’ (AMD) “Radeon” products.

– NeoPhotonics Corp ($SHSE:688521)

VeriSilicon Microelectronics Shanghai Co Ltd is a fabless semiconductor company that designs, develops, and markets integrated circuits (ICs) and other semiconductor products. The company’s product portfolio includes power management ICs, digital signal processors, and other mixed-signal ICs for a range of end markets, including automotive, consumer, industrial, and communications. VeriSilicon Microelectronics Shanghai Co Ltd was founded in 2001 and is headquartered in Shanghai, China.

– VeriSilicon Microelectronics Shanghai Co Ltd ($TPEX:4925)

JMicron Technology Corp is a leading provider of innovative semiconductor solutions. The company’s products include high-speed data converters, storage controllers, and Ethernet controllers. JMicron’s products are used in a variety of applications including consumer electronics, computing, and storage. The company has a market cap of 4.02B and a return on equity of 10.28%. JMicron is a publicly traded company on the Taiwan Stock Exchange.

Summary

Investors in NVIDIA CORPORATION were presented with positive news when the company reported their earnings results for FY2024 Q2. Total revenue surged by 101.5%, reaching USD 13507.0 million, and net income grew from USD 656.0 million to USD 6188.0 million. This news caused the stock price to move up the same day, illustrating investor optimism in the company’s future prospects. With such strong financial figures, NVIDIA CORPORATION is well positioned to continue its impressive performance and remain a strong investment opportunity.