NVidia reveals major profits

Note: This section contains information in English only.
Source: Dukascopy Bank SA


After the US stock market closed on Tuesday, NVidia published the company's third quarter financial results. In general, the company has beaten expectations. However, concerns regarding future sales in Asia persist.

The company was expected to have made earnings per share of $3.367, but the actual earnings were 19.40% higher at $4.02. Meanwhile, the total revenues of the company were forecast to be $16.191 billion. Actual earnings were at $18.12 billion, which is higher than expected by $1.929 billion or 11.91%.

Although, after the earnings were announced, the management of the company commented on the future. As the Chief Financial Officer Colette Kress revealed, the company expects a steep decline in earnings in the fourth quarter of 2023 due to a drop in sales in China. The sales decline is expected due to new US regulations that forbid advanced chip sales and due to Chinese chip firms developing new products.

After the earnings call, the stock price of the company dropped due to the negative comments. However, during Wednesday's US pre-market trading hours, the stock price had recovered and fluctuated near Tuesday's high levels, which indicates that a continuation of the prior surge could occur.
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