Nvidia stock rallies after big earnings beat
Nvidia Corp. shares shed post-earnings gains in the extended session Thursday after the graphics-chip maker did not provide a full-year outlook and said that data-center sales could remain weak.
“The data center spending pause around the world will likely persist in the second quarter and visibility remains low,” Kress said on the conference call with analysts. “And in gaming, the CPU shortage, while improving, will affect the initial ramp of our laptop business.” Revenue from data centers — Nvidia’s second-largest business segment — fell 10% to $634 million from the year-ago first quarter, while analysts polled by FactSet had expect data-center sales to decrease about 5% to $663.7 million.Overall, the company reported first-quarter net income of $394 million, or 64 cents a share, compared with $1.24 billion, or $1.98 a share, in the year-ago period. Analysts surveyed by FactSet had forecast earnings of 58 cents a share.
Gaming, Nvidia’s largest segment, saw revenue fall 39% to $1.06 billion, but that was better than the $933.5 million expected by Wall Street. On the call, Huang said that gaming sales in China were “vibrant.”Professional visualization sales rose 6% to $266 million, while the Street expected $289.9 million. Auto sales rose 14% to $166 million, while analysts expected $163.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Microsoft, Sony partner on streaming games, chips and AIMicrosoft Corp and Sony Corp on Thursday said they struck a strategic partnershi...
Lire la suite »
Nvidia revenue forecast beats estimates; shares riseNvidia Corp reported a better-than-expected quarterly profit and forecast second...
Lire la suite »
China's Sinopec, CNPC skip Iran oil buys for May as U.S. sanctions waivers end: sourcesChina Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC...
Lire la suite »
Sinopec, CNPC skip Iran oil purchases for May to avoid U.S. sanctionsChina Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC...
Lire la suite »
Occidental's victory over Chevron for AnadarkoBefore Occidental Petroleum Corp clinched a deal on Thursday to buy Anadarko Pet...
Lire la suite »
Sony to buy back up to 4.8% of stock through March 2020Sony Corp said on Thursday it would buy back shares worth up to 200 billion yen ...
Lire la suite »
Nvidia stock rallies after big earnings beatNvidia Corp. shares rallied in the extended session Thursday after the graphics chip maker reported earnings that topped Wall Street estimates.
Lire la suite »
Update Your Drivers Right Now If You Have An Nvidia GeForce, Quadro Or Tesla Graphics CardSevere vulnerabilities in the Windows display drivers for Nvidia's graphics cards have been patched.
Lire la suite »
A Fox-News Corp Reunion Just Isn't In The CardsMerging a television business like Fox with a newspaper/book publishing enterprise like News Corp would be a bad idea for many reasons, not the least of which is that it probably wouldn't save the companies that much money.
Lire la suite »
Nvidia is sliding as Trump escalates the trade war with ChinaChipmaker Nvidia fell 2.5% Friday after the US raised tariffs on $200 million of Chinese goods to 25% from 10%.
Lire la suite »
Nvidia set to report earnings after the bellNvidia shares have rebounded this year though the stock is still 45% below its record high as the company faces surplus inventory.
Lire la suite »