Nvidia to Complete 10-for-1 Stock Split

Shares will begin trading on a split-adjusted basis June 10, 2024.

Company also announced strong first-quarter earnings.

Nvidia (NVDA) announced a 10-for-1 forward stock split in its fiscal first-quarter earnings report on Wednesday. The split will take place after the market closes on June 10, 2024. This is the company's second stock split in less than three years.

The split comes on the heels of strong first-quarter earnings. The company reported revenue of $8.29 billion, up 21% year-over-year. Net income was $3.36 billion, up 33% year-over-year.

Nvidia's stock has been on a tear in recent years. The stock is up more than 500% over the past five years. The stock split is likely to make the stock more affordable for individual investors.

Analysts say the stock split is a sign of confidence from Nvidia. The company is betting that its stock will continue to rise in value in the future.