February 22, 2024, 6:45 pm EST
Stunning Earnings Report
It was a very rare earnings report that stunned everyone.
Nvidia (NVDA) presented these numbers:
- Record quarterly revenue of $22.1 billion, up 22% from Q3, up 265% from a year ago
- Record quarterly Data Center revenue of $18.4 billion, up 27% from Q3, up 409% from a year ago
- Record full-year revenue of $60.9 billion, up 126%
The stock market cheered with this report for nearly 3% gains in Nasdaq. All major indexes scored another new high today. Although many people already knew the power of AI, NVDA still surprised most people with its size of about $2 trillion can make a +265% sales growth and +486 EPS earnings growth.
It re-charged the stock markets with another upside momentum even though the markets have been in overbought conditions for several months.
We believe this situation is unique to NVDA for its red-hot technology. The markets could still climb up but it would be difficult to jump in at this stage. Stay cool.
