Nvidia Stock Soars To Record High, Reports $13.5B In Revenue For Q2

sarkarijobfind.com Credit - Gettyimages By, Muhd. Faizan Date - 24/08/2023 J

Nvidia stock soared to a record high after the company reported $13.5 billion in revenue for the second quarter, beating analyst expectations.

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The chipmaker's shares jumped more than 9% in after-hours trading.

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Nvidia's results beat Wall Street expectations by a wide margin. Analysts had forecast revenue of $11.04 billion and earnings per share of $2.07.

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The company's automotive business was the only segment to miss analyst expectations, with revenue up 35%.

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Nvidia's CEO, Jensen Huang, said the company is "on track to deliver record revenue for the full year."

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He also said that Nvidia is "seeing strong demand for our products across all of our end markets."

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Nvidia's strong earnings report is a positive sign for the company and the semiconductor industry as a whole.

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The company also issued strong guidance for the third quarter, calling for revenue of $16 billion, plus or minus 2%.

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