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Top Stock Highlights of the Week: The Hour Glass’s S$1 billion Revenue, OCBC Fined, Nvidia, and Astrea PE Bonds
By The Smart Investor  •  May 28, 2022
elcome to the latest editions of top stock highlights where we feature interesting snippets from various companies and other business events. Nvidia Corporation (NASDAQ: NVDA) Nvidia released its fiscal 2023 first quarter (1Q2023) earnings this week, with revenue hitting a record of US$8.3 billion, up 46% year on year. Gross profit jumped by 49.7% year on year to US$5.4 billion but net profit fell by 15.4% year on year to US$1.6 billion due to a US$1.3 billion acquisition termination cost related to Nvidia’s failed acquisition of Arm from Softbank (TYO: 9984). Free cash flow dipped by 13.1% year on year to US$1.37 billion. The technology company guided for US$8.1 billion in revenue for its fiscal 2023 second quarter, representing a year on year growth of 24.6%. This estimate accounts for a US$500 million revenue reduction resulting from China’s COVID-19 lockdowns as well as the Russia-Ukraine war. CFO Colette Kress said that the company will slow down its hiring to deal with...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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