Nvidia Reports Record Q2 Earnings
Nvidia (NASDAQ: NVDA) announced its second-quarter earnings on August 26, revealing a staggering revenue of $96.2 billion, more than double the $48.9 billion reported in the same quarter last year. Diluted earnings per share reached $2.46, up 128% year-over-year, surpassing analyst estimates by $0.12.
The company’s market cap has risen to approximately $5.56 trillion, making it the largest publicly traded company globally. Analysts project a price target average of $327, indicating an expected 42% upside from the current price of $230. Nvidia’s management anticipates revenue will climb to $108 billion for the third quarter and a full-year growth of 70% over last year.
Data center revenue hit $89 million in Q2, marking a 117% increase from the previous year. Of the 60 analysts covering Nvidia, 48 recommend a buy and 9 a strong buy, with J.P. Morgan recently raising its target from $280 to $320.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
