Nvidia Stock Slumps Despite Another Record Quarter For AI Leader
Nvidia's latest earnings report exceeded expectations, with $0.81 adjusted earnings per share and $19.3 billion net income, surpassing analyst projections. The company generated $35.1 billion in sales, beating estimates of $33.2 billion. Nvidia expects continued growth in the fourth quarter, with projected revenue of about $37.5 billion. Despite the strong financial results, Nvidia's stock slipped by up to 3% following the report, likely due to high market expectations. Nvidia's earnings are seen as influential for the broader market, with significant options activity linked to the announcement. Nvidia is the most valuable company globally, with a market capitalization of $3.5 trillion. The company's share price has increased by over 830% in the past two years. Sales in Nvidia's AI-heavy datacenter segment grew by more than 700% compared to the same period in 2022.