Nvidia's Shares Dip Amid Strong Earnings and Bullish Outlook

Nvidia's shares dipped by 1.77% to $219.51 at market close, despite reporting strong Q1 earnings and a solid Q2 outlook.

The company exceeded analyst expectations for both total revenue and EPS in its Q1 financial statement, achieving revenue of $81.61 billion, ahead of the consensus forecast of $78.91 billion, and an EPS of $1.87, beating the estimated $1.75.

This represents a remarkable year-on-year growth rate of 85% in total revenue and a 123% YoY surge in EPS. Nvidia also forecasted second-quarter revenue above market expectations and announced an $80 billion share repurchase scheme.