Nvidia reported strong first-quarter results, with adjusted earnings of $6.12 per share on revenue of $26.04 billion, surpassing analyst expectations. The company experienced a 427% rise in data center revenue, driven by demand for AI-driven applications. Nvidia also provided optimistic guidance for the current quarter, expecting revenue of $28 billion, above estimates of $26.54 billion. Additionally, the chipmaker announced a ten-for-one forward stock split and increased its quarterly cash dividend by 150%. Investors responded positively to the news, with Nvidia’s stock rising more than 5% in after-hours trading. Analysts at Goldman Sachs noted that the company’s performance met investors’ high expectations. The stock split is set to take place on June 7, aimed at making ownership of Nvidia shares more accessible to employees and investors.
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Nvidia Surpasses $1,000 a Share in Afterhours Trading on Positive Outlook and Stock Split Announcement – Investing.com
