Nvidia reports strong financial performance with a significant increase in revenue and net income

From Barchart: 2024-12-01 10:00:02

Nvidia, a leading technology company, announced a 61% increase in revenue for the first quarter of 2021, reaching $5.66 billion. The company also reported a net income of $1.91 billion, up 106% from the same period last year.

The strong financial performance was driven by robust demand for Nvidia’s gaming and data center products. The company’s gaming revenue increased by 106% to $2.76 billion, while data center revenue grew by 79% to $2.05 billion.

Nvidia’s CEO, Jensen Huang, attributed the impressive results to the company’s innovative products and strong execution. He expressed confidence in Nvidia’s ability to continue delivering value to customers and shareholders in the future.

The positive earnings report led to a surge in Nvidia’s stock price, with shares jumping by 3.6% in after-hours trading. Investors were pleased with the company’s performance and optimistic about its growth prospects in the coming quarters.



Read more at Barchart: Nvidia Stock is Down Since Earnings, but Short-Put Yields Are Still High