On Wednesday, Nvidia announced its second-quarter results. At more than $30 billion, that's a 122% increase over the year. However, the stock price has fallen on the stock market. We take stock.
Nvidia posts more than $30 billion in revenue in Q2
Being one of the most popular stocks in recent years, Nvidia's quarterly results were necessarily expected by investorsThe company announced them yesterday, reporting more than $30 billion in revenue for the period from April 1 to June 30.
Such a result is not insignificant, as it represents an increase of 122% on a quarter-on-quarter basis, as well as an increase of 15% compared to the previous quarter:
Figure 1 – Nvidia Quarterly Results
Artificial intelligence (AI) would play an important role in these figures, notably thanks to several of the brand's products:
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In addition to an increase in turnover, an increase in net income should also be highlighted. Indeed, it rose to almost 16.6 billion dollars in the 2nd quarter, marking an increase of 168% compared to last year, and 12% more than in the first quarter.
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A drop in the action despite everything
Despite a more than honorable performance, these figures do not seem to have convinced investors. And the reason is the title Nvidia fell 2.1% on Wednesday's session. As of this writing, the stock is down another 4% in pre-market trading:
Figure 2 – Nvidia stock price in daily data
Despite this decline, the title still maintains its place as the 2nd most capitalized action in the world. With a total of nearly 3,090 billion dollars, this represents an increase of more than 150% since the beginning of January.
In the wake of this decline, cryptocurrencies labeled “IA” have also suffered a drop in their price:
Figure 3 – Prices of IA category cryptocurrencies
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Although these drops reach up to 8% in 24 hours, it is nevertheless necessary to put things into perspective when looking at the weekly increases.
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Source: Nvidia
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Since 2021, I have devoted my free time to seriously training myself on cryptocurrencies in order to acquire as much knowledge and credibility as possible. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyses on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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