Thu Nov 21 00:58:05 UTC 2024: ## Nvidia Beats Earnings Expectations, But Stock Dips After Hours

**NEW YORK, NY (October 25, 2024)** — Wall Street reacted cautiously to Nvidia’s strong third-quarter earnings report, sending the stock down despite the company exceeding expectations. While the AI giant nearly doubled its revenue to $35.1 billion (versus the predicted $33.2 billion), and projected strong Q4 revenue of $37.5 billion, the after-hours dip suggested that some investors anticipated even greater results. The Dow Jones Industrial Average, however, closed up nearly 140 points (0.3%), buoyed by positive performance in other sectors including healthcare.

Nvidia’s earnings per share of 81 cents also surpassed analyst forecasts by 6 cents. Despite these positive figures, the stock fell over 3% after hours, possibly indicating that the results fell short of some higher, unofficial expectations circulating on Wall Street. CEO Jensen Huang’s comments are anticipated to shed further light on the market reaction.

Elsewhere in the tech sector, mixed results emerged. Palo Alto Networks shares plummeted after hours despite exceeding profit expectations, while Snowflake soared after a strong earnings report. In the retail sector, TJX Companies closed slightly up, though its Q4 guidance disappointed analysts. Target, however, experienced a significant drop exceeding 21% after missing earnings and sales forecasts.

The broader market saw modest gains. The S&P 500 saw a marginal increase, and the Nasdaq pared earlier losses to close down a mere 0.1%. Small-cap stocks underperformed slightly. Bitcoin, meanwhile, reached a new all-time high above $94,000, continuing its recent rally. The cryptocurrency market continues to attract attention amid the anticipated return of Donald Trump to the White House. Among cryptocurrency stocks, MicroStrategy experienced a significant jump, while Coinbase saw a decline.

Federal Reserve Governor Lisa Cook hinted at a potential future rate cut, further influencing market sentiment. Individual stocks showed diverse performances, with Williams-Sonoma experiencing a significant surge and Super Micro Computer giving back substantial gains from the previous day.

Other key tech stocks like Alphabet, Meta, Apple, Tesla, and Microsoft showed mixed performances, with some approaching or exceeding buy points. Amazon, however, lost ground. The market awaits further earnings reports from other retailers, including BJ’s Wholesale and Ross Stores.

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