Nebius Group (NBIS) Hits Fresh High on Swing to Profits

Nebius Group NV (NASDAQ:NBIS) is one of the 10 Stocks With Easy Double-Digit Gains.

Nebius Group bounced back on Wednesday to hit a new all-time high, as investors cheered its stellar first-quarter earnings, with the company swinging to profitability and revenues surging more than sevenfold.

In intra-day trading, the stock soared to its highest price of $217.34 before paring gains to end the session just up by 15.72 percent at $207.27 apiece.

For illustration purposes. Photo by Brett Sayles on Pexels

During its earnings call, Nebius Group NV (NASDAQ:NBIS) said that it swung to a net income of $621.2 million from a $104.3 million net loss in the same period last year.

Revenues soared by 684 percent to $399 million from $50.9 million year-on-year.

“We continue to see unprecedented demand across the market. Compute and cloud needs are vastly exceeding capacity as more industries embrace AI and companies move beyond experimentation to real-world applications. We are seeing this demand first-hand, and are capturing it with our full-stack AI-native cloud,” Nebius Group NV (NASDAQ:NBIS) CEO Arkady Volozh said, adding that such achievements are setting the company up for continued success.

“The future is very bright, and we have a long and exciting journey ahead,” he noted.

During the period, it can be recalled that Nebius Group NV (NASDAQ:NBIS) clinched two major billion-dollar deals—a $27 billion dedicated capacity for Meta Platforms, and a $2 billion investment and partnership with Nvidia Corp.

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