Investors cheer forecast-beating results from chipmaker, as attention turns to delayed US employment report
The Nvidia relief rally has reached London.
After falling for the last five sessions, stocks are higher in early trading. The FTSE 100 share index has gained 56 points, or 0.6%, at the start of trading, to 9564 points.
NVDA duly delivered a classic ‘beat and raise’ after hours yesterday, not only topping both top-and bottom-line expectations, with EPS at $1.30 and revenues at $57.01bln in Q3, but also hiking Q4 revenue guidance to between $63.7bln and $66.3bln, above the consensus figure of $61.9bln. All of this, on margins well above 70%…I’m running out of superlatives to describe the figures at this stage, to be honest, though the market clearly isn’t, with NVDA popping as much as 5% after hours yesterday.
With the risk of Nvidia earnings now out of the way, and with the market seemingly content to buy back into the AI theme in the aftermath of the report, at least selectively anyway, I’m relatively confident to call an end to the recent slump that we’ve seen across the equity space, especially with spoos [the futures contract for the US S&P 500 share index] reclaiming the 50-day moving average this morning.
“We are navigating a year of volatility in external factors with disciplined execution, reflected in a solid Q3. In the near term, as we enter an important trading period, we are mindful of recent weak macro and consumer indicators in our key markets.
These lead us to take a pragmatic approach for our FY26 profit outturn. We remain confident in the overall positive trajectory for our industry and JD Group over the medium term, and this is well reflected in our commitment to enhanced shareholder returns.”
Continue reading…Investors cheer forecast-beating results from chipmaker, as attention turns to delayed US employment reportThe Nvidia relief rally has reached London.After falling for the last five sessions, stocks are higher in early trading. The FTSE 100 share index has gained 56 points, or 0.6%, at the start of trading, to 9564 points.NVDA duly delivered a classic ‘beat and raise’ after hours yesterday, not only topping both top-and bottom-line expectations, with EPS at $1.30 and revenues at $57.01bln in Q3, but also hiking Q4 revenue guidance to between $63.7bln and $66.3bln, above the consensus figure of $61.9bln. All of this, on margins well above 70%…I’m running out of superlatives to describe the figures at this stage, to be honest, though the market clearly isn’t, with NVDA popping as much as 5% after hours yesterday.With the risk of Nvidia earnings now out of the way, and with the market seemingly content to buy back into the AI theme in the aftermath of the report, at least selectively anyway, I’m relatively confident to call an end to the recent slump that we’ve seen across the equity space, especially with spoos [the futures contract for the US S&P 500 share index] reclaiming the 50-day moving average this morning.“We are navigating a year of volatility in external factors with disciplined execution, reflected in a solid Q3. In the near term, as we enter an important trading period, we are mindful of recent weak macro and consumer indicators in our key markets.These lead us to take a pragmatic approach for our FY26 profit outturn. We remain confident in the overall positive trajectory for our industry and JD Group over the medium term, and this is well reflected in our commitment to enhanced shareholder returns.” Continue reading…