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Nvidia stock pops 9%, tops $1,000 after earnings beat forecasts, announces stock split and dividend hike

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Nvidia,Stock Split,Earnings Per Share

Nvidia reported its fiscal first quarter earnings after the bell on Wednesday, beating analysts' expectations on the top and bottom lines while raising its...

) stock rose 9.3% on Thursday, closing above $1,000 for the first time and giving the chip giant a market cap north of $2.5 trillion after reporting

Analysts were expecting adjusted EPS of $5.65 on revenue of $24.69 billion, according to data from Bloomberg. The company reported adjusted EPS of $1.09 on revenue of $7.19 billion in the same quarter last year.In the current quarter, Nvidia expects revenue of $28 billion, plus or minus 2%. That’s better than the $26.6 billion analysts had expected.

NVIDIA's CEO Jensen Huang displays products on-stage during the annual Nvidia GTC Artificial Intelligence Conference at SAP Center in San Jose, Calif., on March 18, 2024. Nvidia issued its first quarter results on Wednesday afternoon, beating Wall Street expectations and announcing a 10-for-1 stock split. KeyBanc Capital Markets Equity Research Analyst John Vinh joins Morning Brief to explain how Nvidia "met the bar" and what it will take for the chip giant to build on its success.

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