U.S. semiconductor company Nvidia surpassed expectations with its earnings and announced a 10-for-1 stock split, pushing its stock price above $1,000 per share in after-hours trading on the 22nd (local time).
As of 5:50 PM Eastern Time, Nvidia's stock price was trading above $1,009 in after-hours trading, up more than 6%. Earlier, it had risen over 7%.
This is the first time Nvidia's stock price has exceeded $1,000. After closing the regular session of the New York Stock Exchange down 0.46%, Nvidia's Q1 earnings and stock split announcement acted as positive catalysts, causing a sharp rise in after-hours trading.
Nvidia's Q1 (February to April) revenue increased 262% year-over-year to $26 billion, and adjusted earnings per share (EPS) rose 461% to $6.12 during the same period. These figures surpassed market expectations. Previously, market research firm LSEG had forecasted Nvidia's revenue at $24.65 billion and adjusted EPS at $5.59.
Additionally, Nvidia decided to split its common stock 10-for-1. Quarterly cash dividends will also increase to $0.10 per share, up from $0.04 per share in the previous quarter.
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