[Moo Brief] NVIDIA stock split drives its price exceeding $1000: What chances await you?
$NVIDIA(NVDA.US$'s eagerly awaited financial report for the latest quarter was unveiled, exceeding expectations. Along with recording the highest quarterly sales ever, the company further delighted investors with a 10-for-1 stock split announcement.
Stock Split Details
This stock split effectively divides the value of each original share into ten parts. While this doesn't significantly alter Nvidia's financial standing, the company stated that the stock split will make ownership “more accessible to employees and investors."
The most recent closing price for Nvidia shares stands at 949.50.Applying the 10-for-1 split to this price would mean each new share would cost 94.95.
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Financial Performance
In after-hours trading, Nvidia's shares surged over 6%, with one share passed the $1,000 mark that many traders had been anticipating.
According to the report, Nvidia recorded earnings per share of 6.12 and total sales of 26 billion for the three-month period ending April 30. These figures surpassed analysts' forecasts of 5.60 earnings per share and 24.59 billion in sales (as reported by Forbes and FactSet).
Profits surged impressively, registering an increase of 628% and 268% compared to the same period in 2023. This quarter marked Nvidia's most profitable and highest sales quarter in its history.
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