Nvidia is going to release its latest financial report in a few hours. Impressive performance in recent months has made Wall Street analysts expect a lot from Nvidia, and this has affected the company’s market value.
According to Market Watch reportNvidia stock value fell 4.35% to record the company’s worst day in the last four months. Nvidia faced a 4.7% decline at the end of 2023, but since then it has been completely bullish and managed to make a lot of noise in the US stock market.
The 4.35% drop in Nvidia stock caused $78 billion of the company’s market value to disappear overnight. This is the first time in Nvidia’s history that the green team’s market value experienced such a sharp drop in one day. The previous record was 53 billion dollars, which was recorded in 2023. Despite the recent decline, Nvidia’s stock value has increased by more than 35% since the beginning of 2024.
Analysts say that Nvidia was able to earn $4.59 per share and $20.4 billion in revenue in the final quarter of last year (ending mid-December). Therefore, adjusted earnings per share have grown 400 times and the company’s revenue has more than tripled.
According to analysts’ predictions, Nvidia’s brilliant statistics will continue in the current season as well. Adjusted earnings per share for the current quarter are expected to reach $5.02 and revenue to reach $22.2 billion, which are 350% and three times higher than the previous year, respectively.
