Nvidia Shares Spike 26%
View Source | May 24, 2023 8:48 pm
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- Nvidia reported first-quarter earnings for its fiscal 2024 on Wednesday, with a stronger-than-expected forecast that drove shares up 26% in extended trading.
- Nvidia said it expected sales of about $11 billion, plus or minus 2%, in the current quarter, more than 50% higher than Wall Street estimates of $7.15 billion.
- Prior to the after-hours move, Nvidia stock was up 109% so far in 2023, mostly driven by optimism stemming from the company’s leading position in the market for artificial intelligence chips.
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