Earnings Fall Short Of Expectations

NVIDIA Stock: Latest News and Analysis

Earnings Fall Short of Expectations

NVIDIA Corp (NVDA) reported earnings per share of $0.88 for the fourth quarter of fiscal 2023, falling short of analysts' estimates of $0.92. The chipmaker cited weaker-than-expected sales of its gaming GPUs as the primary reason for the shortfall.

Analysts Remain Bullish Despite Earnings Miss

Despite the earnings miss, analysts remain bullish on NVIDIA's long-term prospects. Bank of America reiterated its price target of $1500, citing the company's strong position in artificial intelligence and cloud computing.

Key Points

• NVIDIA reported EPS of $0.88 for Q4 2023, below estimates.
• Gaming GPU sales were weaker than expected.
• Analysts remain optimistic about NVIDIA's future growth in AI and cloud.