Nvidia Jumps 9% after 4Q23 Earnings Beat Largely Forecasts

The share price of Nvidia rose 9% in an after-hour trading on Wednesday after the company reported larger-than-expected profit in 4Q23 earnings late Wednesday.

Earnings per share for the fourth quarter was $5.16, up 765% YoY and also beating expectations of $4.60 per share.

Nivdia said revenue was $22.1 in the final quarter, which was also above analysts’ expectations for $20.4 billion.

“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,” said Jensen Huang, founder and CEO of Nvidia.

The management said that the outlook for the current quarter was strong and also above Wall Street forecasts.