Investing.com – The shares of NVIDIA (NASDAQ:) rose 6.05% in after-market trading after the microchip giant reported better-than-expected quarterly results.
Nvidia beats expectations
In the period between January and March 2024, Nvidia reported earnings per share of $6.12, a result that exceeded analysts’ estimates of $5.59 by 0.53. Revenue for the quarter was $26.04 billion, while the consensus was $24.65 billion.
Net profit also exceeded estimates, increasing to 14.8 billion dollars (+628% compared to the same period in 2023).
Outlook rising and dividend at $0.10
Even the forecasts for the future did not disappoint: in the second quarter the semiconductor company expects to reach 28 billion in turnover against the 26.66 billion indicated by analysts.
Finally, Nvidia announced a quarterly dividend of $0.10 per share, up 150% from the previous quarterly dividend of $0.04 per share, which corresponds to an annual dividend of $0.40.
The dividend payment is scheduled for June 28, 2024, and will be paid to those who purchase Nvidia shares by June 10, 2024.
After the calculations, the experts at Goldman Sachs (NYSE:) proceeded to raise the target price on the stock to 1,200 dollars per share, compared to the previous 1,100 dollars, continuing to recommend it as a strong “Buy”.
Even more optimistic are KeyBanc analysts who have indicated Nvidia with an ‘overweight’ rating and a target price of $1,300 from the previous $1,200.
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