Nvidia (NASDAQ:NVDA) experienced a 4% surge in its stock price during after-hours trading on Wednesday, following the release of its first-quarter earnings report, which surpassed analysts’ expectations. Additionally, the company announces a 10-for-1 stock split and an enhanced dividend payout, aligning itself with other major tech industry players and increasing shareholder returns.
For the first quarter, Nvidia reports adjusted earnings per share (EPS) of $6.12 on revenue totaling $26 billion, marking significant increases of 461% and 262%, respectively, compared to the same period last year. Analysts had anticipated adjusted EPS of $5.65 on revenue of $24.69 billion, as per Bloomberg data. Notably, in the corresponding quarter of the previous year, the company reported adjusted EPS of $1.09 on revenue of $7.19 billion.
Looking ahead, Nvidia anticipates revenue in the range of $28 billion, plus or minus 2%, for the upcoming quarter, surpassing analysts’ expectations.
Investors responded positively to the news, driving Nvidia’s stock price up by as much as 4% during extended trading hours on Wednesday.
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