Nvidia continues to grow: Q1 2024 report
Nvidia’s report for the first quarter of the 2024 fiscal year has not left investors and experts indifferent. Strong financial indicators, which were announced in the report, allowed the company’s shares to grow by a whopping 30 percent. Now Nvidia’s market capitalization is hovering around $950 billion, and the company will not stop there.
The table with Nvidia’s Q1 2024 fiscal year report data shows a decrease in revenue compared to the previous year, but strong financial performance in other areas:
| Q1 2024 fiscal year | Q1 2023 fiscal year | Year-over-year | |
|---|---|---|---|
| Revenue | $7.19 billion | $8.25 billion | ↓ -13% |
| Operating profit | $2.14 billion | $1.86 billion | ↑ +15% |
| Net income | $2.04 billion | $1.62 billion | ↑ +26% |
| EPS | $0.82 | $0.64 | ↑ +28% |
The company’s shares grew by 30 percent after the report, and its market capitalization is approaching $1 trillion. Nvidia’s report for the first quarter of the 2024 fiscal year showed strong financial indicators despite the decrease in revenue. By focusing on artificial intelligence and investing in research and development, the company continues to grow and has the potential to become one of the most successful in the world.
Despite the 13 percent decrease in revenue compared to last year, Nvidia continues to demonstrate strong financial performance. Operating profit increased by 15 percent, indicating that the company is effectively managing its expenses. Nvidia’s net income also increased by 26 percent, reaching $2.04 billion.
One of the key factors in the company’s success is its focus on artificial intelligence. Nvidia’s technologies are used in various fields, from autonomous vehicles to medical research. Thanks to this, the company continues to grow and show sustainable financial results.
But despite its success, Nvidia is not sitting still. It continues to invest in research and development to remain a leader in its industry. The company forecasts revenue growth in the second quarter of the 2024 fiscal year, as well as improved operating performance.
According to experts, Nvidia’s stock growth may continue. The company is already approaching a market capitalization of $1 trillion, and its products and technologies continue to find applications around the world. If Nvidia maintains its focus on innovation and quality management, it can become one of the most successful companies in the world.
