Nvidia Beats Earnings Expectations as Meta Settles $17 Billion Lawsuit

Nvidia and Meta were two of the biggest stocks making headlines this week. Nvidia beat earnings expectations, reporting $2.22 in earnings per share, well ahead of estimates, and revenue of $96.2 billion, which was about $4 billion more than expected.

The stock initially fell after the announcement, but then rallied as investors focused on the company's forward guidance. Nvidia expects to grow its revenue by approximately 70% in fiscal 2028, with Q3 guidance at $108 billion, assuming zero data center compute revenue from China. This has raised questions about the sustainability of the company's growth.

Meta Platforms faced a lawsuit brought against them by 29 states, which they have settled for $17 billion. However, this settlement does not necessarily change the company's outlook, as investors are still waiting to see what their growth catalyst will be.