8/23/2024: Nvidia Had a Blockbuster Quarter
Nvidia reports Q2 FY2024 earnings after market close today. Revenue was $13.51B vs. $11.22B expected. EPS was $2.7 vs. $2.09 expected. The company also forecast Q3 revenue to be ~$16 billion, way above the current $12.61B consensus. NVDA 0.00%↑ stock soared 5+% after the report and reached another all time high.
WOW! This is a super impressive result. Nvidia’s H100 continues to be sold out due to the AI craze and the company has been offering integrated hardware/software solutions. Namely, they sell not just GPUs. Their GPUs can communicate to one another through theirNVLink communication protocols. It will be very hard for other players to catch up.NVDA 0.00%↑ stock is very expensive though. I will never buy the stock but congratulations to the bulls. The bears got rekt again but they did it to themselves as the company is on an accelerated growth trajectory.