Nvidia's stock price fell 3% despite beating earnings and revenue expectations, with positive long-term outlook

From Yahoo Finance: 2024-08-29 14:28:20

Nvidia’s stock price fell 3% despite posting better-than-expected second quarter earnings and guidance for the third quarter. Revenue jumped 122% year over year to $30 billion, with data center revenue at $26.3 billion, up 154%. Wall Street analysts were not surprised by the growth after several quarters of big surprises. Nvidia made changes to its next-generation Blackwell chip to improve production yield. CEO Jensen Huang expects to ship several billion dollars of Blackwell revenue in the fourth quarter. Despite some concerns, Wall Street analysts raised their price targets on Nvidia’s stock.



Read more at Yahoo Finance: Nvidia’s business is growing faster than expected. Investors were still disappointed.