NVIDIA's stock price has more than doubled so far this year.
NVIDIA released its financial report for the first quarter of the fiscal year 2024, ending on April 30, 2023. The company's first-quarter revenue was $7.192 billion, a 13% decrease compared to the same quarter last year but higher than the market's expected $6.52 billion. The net profit for the quarter was $2.713 billion.
NVIDIA CEO Jensen Huang stated that he observed a significant increase in demand for their data center products in the market. Despite market expectations of $7.18 billion in revenue for the next quarter, NVIDIA confidently provided a guidance of over $11 billion, surpassing expectations by more than 50%.
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