After dipping initially, NVIDIA (NVDA) shares gained around 4.7% last night in after-hours trading. The firm posted results that beat expectations.
Nvidia grew its revenue by an astounding 105.9% Y/Y to $96.22 billion. Data Center revenue rose by 117% Y/Y, to $89.0 billion. CEO Jensen Huang said that demand is accelerating. The company is forecasting revenue for fiscal 2028 to increase by 70%. Analysts expected growth of 44%.
Printer and PC supplier HP Inc. (HPQ) might open down by around 9% this morning. It recorded a non-GAAP EPS of $0.83. Revenue of $15.68 billion is up by 12.6% Y/Y. HP is taking restructuring and other charges, litigation (benefits) charges, net acquisition, and divestiture charges. Those items all set a bearish tone for HPQ stock. Additionally, investors did not like HP using tariff-related refunds in its non-GAAP EPS.
The SaaS sell-off caused by fears about AI taking its market share ended. Salesforce (CRM) should open up by around 13%. It recorded revenue growth of 10.8% Y/Y to $11.35 billion. Its cRPO, or current remaining performance obligation, topped $33.5 billion (+14% Y/Y).
Salesforce is forecasting revenue of $46.1 billion to $46.4 billion for fiscal 2027. This is within analyst expectations. Investors who previously averaged down on CRM stock in the spring benefited the most. CRM stock bottomed at $146.32 by June. It should trade at around $230 today.
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