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NVDA Beat estimates, down 5% after hours....
Posted on 8/28/24 at 3:26 pm
Posted on 8/28/24 at 3:26 pm
AI juggernaut Nvidia (NVDA) reported its second quarter earnings after the bell on Wednesday, beating expectations on the top and bottom line, and beating on anticipated guidance for the coming quarter.
For the quarter, the company reported earnings per share of $0.68 on revenue of $26.3 billion. Analysts were expecting EPS of $0.64 and revenue of $28.8 billion. That's a massive increase from the same period last year when Nvidia saw EPS of $0.27 and revenue of $13.5 billion.
The company also provided third quarter revenue guidance of $32.5 billion plus or minus 2%, analysts were looking for $31.9 billion.
Shares of the chip giant were down 6% following the announcement.
For the quarter, the company reported earnings per share of $0.68 on revenue of $26.3 billion. Analysts were expecting EPS of $0.64 and revenue of $28.8 billion. That's a massive increase from the same period last year when Nvidia saw EPS of $0.27 and revenue of $13.5 billion.
The company also provided third quarter revenue guidance of $32.5 billion plus or minus 2%, analysts were looking for $31.9 billion.
Shares of the chip giant were down 6% following the announcement.
8
Posted on 8/28/24 at 3:31 pm to Zilla
quote:
the company reported earnings per share of $0.68 on revenue of $26.3 billion. Analysts were expecting EPS of $0.64 and revenue of $28.8 billion. That's a massive increase from the same period last year when Nvidia saw EPS of $0.27 and revenue of $13.5 billion.
quote:
The company also provided third quarter revenue guidance of $32.5 billion plus or minus 2%, analysts were looking for $31.9 billion.
quote:
Shares of the chip giant were down 6% following the announcement.
Posted on 8/28/24 at 3:32 pm to LSURussian
Makes no sense. I'm big into MU and it is getting taken down with NVDA. This after a haircut the last 4 days.
Posted on 8/28/24 at 3:35 pm to nated14
I hope it is down big at the open tommorrow so i can get a few shares but im sure it will recover by opening bell tommorrow morning . Afterhours trading makes no sense.
Posted on 8/28/24 at 3:38 pm to nated14
$30 Billion revenue was a beat but not big enough. Needed that number to be $31B
Posted on 8/28/24 at 3:40 pm to FLObserver
Agreed. Below 120 is a gift
Posted on 8/28/24 at 3:40 pm to LSURussian
They had a major setback in their Blackwell chip....4 months or so. Also, the market was baked for them to blowout their expectations. Thats why retailers bought up more then $1.5 in the last week alone. They didnt really meet true expectations and some trouble about the economy. Tough for a company that owns 88% of a market to blow it out.....
Also, it would probably be down 10-15% but they announced a $50B stock buy back, which is insane.
All going to be about the guidance call here at 5pm EST.
I think it opens much lower tomorrow, with a great buying opportunity after the holiday weekend...next Friday!!!!
Also, it would probably be down 10-15% but they announced a $50B stock buy back, which is insane.
All going to be about the guidance call here at 5pm EST.
I think it opens much lower tomorrow, with a great buying opportunity after the holiday weekend...next Friday!!!!
Posted on 8/28/24 at 4:10 pm to IT_Dawg
It’s weird that NVDA is seen as expensive. I think that’s a reflex because people don’t know how to evaluate it. It’s arguably the most impressive company ever to this point in its life. Over the next ten years its industry will be the most important industry in the world. How cheap do people think it should be?
Posted on 8/28/24 at 4:50 pm to LSURussian
quote:
Shares of the chip giant were down 6% following the announcement.
Feels like a set-up.
Posted on 8/28/24 at 5:11 pm to nated14
quote:
Makes no sense. I'm big into MU and it is getting taken down with NVDA. This after a haircut the last 4 days.
man, me too. F'in sucks (for now)
Posted on 8/28/24 at 6:13 pm to LSURussian
Their earnings BEAT by margin % shrunk from last quarter. That’s what wall st is looking at bc it’s essentially pricing in for it to continue to grow at 120mph when it’s now just slowed down to 110mph.
Posted on 8/28/24 at 6:28 pm to nated14
quote:
Makes no sense.
Single day movement rarely does.
Can't remember which one but one of my stonks beat all estimates, turned a profit, and fell a hair under 10%.
Posted on 8/28/24 at 6:53 pm to IT_Dawg
quote:
They had a major setback in their Blackwell chip
No they didn’t. There Blackwell timeline remains unchanged and are set to deliver in Q4.
Posted on 8/28/24 at 7:20 pm to Hookah
quote:
No they didn’t. There Blackwell timeline remains unchanged and are set to deliver in Q4.
Q4 was the setback, was supposed to be Q3. Last 3 months of this year are going to be bonkers when Blackwell launches. Demos are being sent out now I believe.
Posted on 8/28/24 at 9:21 pm to Zilla
When besting expectations is a disappointment to the market, it’s a sign of over valuation
It seemed inevitable tho
It seemed inevitable tho
Posted on 8/28/24 at 10:06 pm to Shepherd88
Margins were also lower.
Q2 gross margins were 75.7% vs 78.9% the prior quarter. Also, Q3 margin guidance was even lower at 74.4%
Doesn’t seem that significant, but this thing was priced for high growth and the highest of margins. And they basically just met the expectation. So maybe it’s topped? Hard to not take profits at least.
Q2 gross margins were 75.7% vs 78.9% the prior quarter. Also, Q3 margin guidance was even lower at 74.4%
Doesn’t seem that significant, but this thing was priced for high growth and the highest of margins. And they basically just met the expectation. So maybe it’s topped? Hard to not take profits at least.
Posted on 8/29/24 at 5:30 am to Zilla
Almost down 10% between Weds and after hours. Beat estimates and collapse. Insanity.
This post was edited on 8/29/24 at 1:14 pm
Posted on 8/29/24 at 6:52 am to Zilla
Do analysts just deflate estimates so things always beat estimates?
Posted on 8/29/24 at 7:19 am to TheWalrus
quote:
Do analysts just deflate estimates so things always beat estimates?
Not sure what this means.
In the cas of NVDA, I saw an analyst on CNBC say the stock was priced for perfection and as someone posted above there were a few areas that didn't meet expectations.
I just think the entire semi industry as well as tech just feels a little heavy right now.
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