Wall Street Breakfast
Nvidia soars on Q2 earnings
Aug 24, 2023
Nvidia soars on Q2 earnings, Jerome Powell's comments on rate cuts, Boeing's manufacturing issues with the 737 MAX, and other market headlines are discussed in this episode.
06:09
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Quick takeaways
- NVIDIA surpasses Q2 earnings expectations, with data center sales reaching record levels and providing strong guidance for Q3.
- Boeing encounters manufacturing issue with 737 MAX, resulting in delays in deliveries.
Deep dives
NVIDIA Reports Strong Q2 Earnings, Surpasses Expectations
NVIDIA has reported impressive second quarter results, beating expectations. The company earned $2.70 per share on $13.51 billion in revenue, exceeding analysts' predictions of $2.09 per share on $11.09 billion in revenue. Data center sales reached a record $10.32 billion, well above the estimated $7.98 billion. NVIDIA also provided strong guidance for the third quarter, with expected sales of $16 billion, driving the stock price up by more than 8%. The company also approved a $25 billion share buyback.
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