Since the beginning of the year, NVDA stock is down one-third, at $195.92 as of Jun. That sets this stock apart from the rest and makes it worth investigating further to take advantage of its lower price. So, while other tech stocks are reporting lower sales and earnings, Nvidia reported higher sales and net income. Not including those charges, Nvidia’s non-GAAP earnings per share (EPS) were up 49% YOY and even up 3% from the prior quarter.
Moreover, its earnings came in higher, as well, making NVDA stock a good bet at today’s price.Įven though GAAP earnings were down 16% year-over-year (YOY), this included one-time charges from the termination of the purchase of semiconductor firm, ARM, in the U.K. This included record revenue from its Data Center and Gaming Divisions. Revenue came in at $8.29 billion, up 46% from a year ago, and up 8% from the fourth quarter (Q4) of 2021. Nvidia (NASDAQ: NVDA) reported stellar revenue growth on May 25 for the quarter ending May 1.
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