NVIDIA recently reported revenue for the first quarter ended April 28, 2024, of $26.0 billion, up 18% from the previous quarter and up 262% from a year ago.
The company’s earnings per diluted share was $5.98, up 21% from the previous quarter and up 629% from a year ago.
On the news hearings, Jensen Huang, founder and CEO of NVIDIA said: “AI will bring significant productivity gains to nearly every industry and help companies be more cost- and energy-efficient, while expanding revenue opportunities.”
From gross revenue of $ 26.0 Billion, around $ 14.9 Billion was in fact new income after deducting all the costs and taxes.Â
The stock PE ratio is no close to 66. Although, it is high, it is not comparable to the PE levels of Tesla corporation in 2020 which was close to bubble. It means the investors have become more realistic and their evaluation about the company was in line with the company growth rates.
Nvidia entered the market by producing graphics processing units, known as GPUs, a key component of PC architecture and large-scale applications. It designs and sells GPUs for gaming, cryptocurrency mining, and professional applications. But with the advancement of AI, the most important item in the last quarter earning was the NVIDIA data centers that face huge demand from the market for generative AI training purposes.
