Company news: NVIDIA's (NVDA) quarterly results strongly beat analysts’ estimates

NVIDIA (NVDA) reported Q1 FY2024 earnings of $6.12 per share (versus $1.09 per share in Q1 FY2023), strongly beating analysts’ consensus estimate of $5.60 per share.

The company’s quarterly revenues amounted to $26.044 bln (+262.1% y/y), strongly beating analysts’ consensus estimate of $24.593 bln.

The company also issued upside revenue guidance for Q2 FY2024 of $28.0 bln +/- 2%, implying $27.44-28.56 bln versus analysts’ consensus estimate of $26.62 bln.

In addition, NVIDIA announced a ten-for-one forward stock split effective June 7 and a quarterly cash dividend raised by 150% to $0.01/share on a post-split basis.

NVDA rose to $1,012.01 (+6.58%) in pre-market trading.