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Technology Stocks : Semi Equipment Analysis

SOXX 270.83

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Nov 21 4:00 PM EST

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The Ox

To: Return to Sender who wrote (90618)	8/23/2023 7:55:23 PM
From: Return to Sender	1 Recommendation Read Replies (2) of 95456

NVIDIA beats by $0.62, beats on revs; guides Q3 revs above consensus; approves additional $25 bln for share repurchases 4:27 PM ET 8/23/23 \| Briefing.com Reports Q2 (Jul) earnings of $2.70 per share, excluding non-recurring items, $0.62 better than the FactSet Consensus of $2.08; revenues rose 101.5% year/year to $13.51 bln vs the $11.19 bln FactSet Consensus.Data Center revs grew 171% yr/yr to $10.32 bln led by cloud service providers and large consumer internet companies. Strong demand for the NVIDIA HGX platform based on Hopper and Ampere GPU architectures was primarily driven by the development of large language models and generative AI.Gaming revs grew 22% yr/yr to $2.49 bln, primarily reflecting demand for GeForce RTX 40 Series GPUs.Professional Visualization fell 24% yr/yr to $379 mln; primarily reflects lower sell-in to partners following normalization of channel inventory levels.Automotive grew 15% yr/yr to $253 mln, primarily driven by sales of self-driving platforms.Co issues upside guidance for Q3, sees Q3 revs of $16.00 bln plus or minus 2%, implying $15.68-16.32 bln vs. $12.59 bln FactSet Consensus.Co also expects non-GAAP gross margins of 72.0-73.0%.Co added, "During the quarter, major cloud service providers announced massive NVIDIA H100 AI infrastructures. Leading enterprise IT system and software providers announced partnerships to bring NVIDIA AI to every industry. The race is on to adopt generative AI."Co also approved an increase to its share repurchase program of an additional $25.00 billion, without expiration. As of the end of the second quarter, had $3.95 billion remaining under share repurchase authorization.

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