Nvidia Reported Promising Earnings and Red Robin Gourmet Burgers Facing Worker Shortage
Nvidia is a semiconductor company located in Silicon Valley. They are one of the largest to do it, and it is reflected on their market cap as they are valued at $474.477 billion. Nvidia recently performed a 4 to 1 stock split as their share price was floating around $800, which is something many large businesses have done.
On Wednesday, Nvidia reported their second quarter earnings. They saw an EPS of $1.04, which topped market expectations, and they saw record revenue with $6.51 billion. Nvidia was also confident on their reported acquisition of Arm Limited, which is going through the regulatory process in the United Kingdom. There were delays, which concerned investors, but Nvidia put those fears to rest in the earnings call. Nvidia rose 2.31% to $194.80 after hours, following a bad day in the market.
Red Robin Gourmet Burgers
Red Robin is a gourmet restaurant chain that has franchises across the United States and Canada. They have a market cap of $385.309 million, and they are based in Littleton, Colorado, which is a suburb of Denver.
On Wednesday, Red Robin announced their second quarter earnings, and the struggles were real. They reported a loss of 32 cents per share, and sales were at $277 million. CEO Paul Murphy said that the numbers were lower than the company’s expectations, and labor availability was a major problem which led to lower operating hours. After the market closed, Red Robin fell to $22.65, down 7.81%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.