NVIDIA Stock ( NASDAQ:NVDA )
Investors shouldn’t get overly enthused about NVIDIA ( NASDAQ:NVDA ), even though it has recently revealed stronger operating trends, and its new breakthroughs in AI may offer a new source of growth.
Income Analysis
NVIDIA surpassed market forecasts on both the top and bottom lines when it released its Q4 and full fiscal year (FY) 2023 earning s yesterday. Although NVIDIA has a history of exceeding street predictions, this quarter’s revenue beat was less than in prior quarters due to the semiconductor industry’s continuing lackluster operating momentum, specifically in relation to sales of consumer electronics and PCs.
Revenues for NVIDIA came to $6.05 billion in the most recent quarter, which was down 21% from Q4 FY 2022 but up sequentially. The fact that its revenues rose by 2% in comparison to the previous quarter is a positive indication that the present downturn has likely bottomed out during Q3 since most segments reported recovering revenues.
Despite becoming more resilient over the last few quarters, the data center was the only industry sector to show a sequential fall in sales in Q4 with $3.6 billion (vs. $3.8 billion in Q3). On the other hand, gaming revenue increased to more than $1.8 billion in Q4 from $1.57 billion in Q3, indicating a solid rebound. This is a highly positive development because gaming historically accounted for the majority of NVIDIA’s income and has been the primary driver of top-line erosion over the past several quarters, along with lackluster PC sales after the pandemic bump and maybe dismal crypto revenue.
Investors should be aware that NVIDIA continues to withhold information about the amount of money ...
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