Nvidia beats on earnings

Published On Aug 28, 2024, 4:24 PM

Nvidia reported strong second quarter earnings with adjusted EPS of $0.68 and revenues of $30 billion, surpassing analysts' expectations. However, the stock fell despite these positive results, as the market reacted to the company's future guidance and ongoing supply pressures. The primary revenue driver was Nvidia's data center business, generating over $26 billion, a significant year-over-year increase. Nvidia also announced plans for its next-generation Blackwell chip and a substantial increase in its share buyback program.