Aug 29 (Lagos) - Nvidia reported its Q2 earnings yesterday after market close and posted revenues of USD 30 billion which exceeded expectations by more than 1 billion USD. Profit was also above estimates and the Company announced a $ 50 billion buy-back program.
All that was not enough to impress wall street analysts who wanted even more revenue and profit than what Nvidia announced. Stock was down more than 6% in after hours trading.
Some analysts questioned the Company's 3 trillion valuation. Others pointed towards the likely fact that this Company could have revenues in excess of $ 200 billion in a couple of years and where would that take the company's valuation.
We should wait to see how the stock will react in the coming days or even tomorrow after the full scale of these results have been digested and forecasts start changing again. Other than Nvidia, Salesforce and Crowdstrike also reported their earnings today which also beat expectations.
reporting for easykobo.com on Thursday, Aug 29 2024 from Lagos, Nigeria