NVIDIA earned more than $2 billion in net profit for the quarter

NVIDIA reported net income of $2.04 billion, or 82 cents per share, in the first quarter of fiscal 2024. This is reported by CNBC with reference to the information of the American manufacturer.

A year earlier, NVIDIA’s net income was lower and was estimated at $1.62 billion, or 64 cents per share. At the same time, the company’s sales for the year decreased by 13% and amounted to $8.29 billion.

With all that, in the current quarter, NVIDIA expects sales of about $11 billion with a possible deviation of 2%. Although on Wall Street, sales of the giant in the II quarter are estimated more skeptically – at the level of $7.15 billion.

We will remind that in April NVIDIA officially presented another video card based on GPU with Ada Lovelace architecture – GeForce RTX 4070. The model is positioned as the best option for games in 1440p mode, where the video card is usually able to provide more than 100 fps.

The recommended price of this video card is $599. The price tag seems quite high, as for the RTX xx70 model, but taking into account the current offers in this segment, the novelty may well be suitable for quite picky players who are not ready to spend even more.