Nvidia Corp. shares ticked higher in the extended session Wednesday after the chip maker’s modified servers to China mostly made up for an expected $400 million exposure to a U.S. ban on certain tech sales.
Revenue fell to $5.93 billion from $7.1 billion in the year-ago quarter as gaming sales slumped. Analysts had forecast 71 cents a share on revenue of $5.78 billion. “We are quickly adapting to the macro environment, correcting inventory levels and paving the way for new products,” said Jensen Huang, Nvidia’s founder and chief executive, in a statement. Last quarter, the company announced it took a $1.32 billion inventory charge.
Read: Nvidia’s gambit to salvage China data-center sales, gaming-card market questioned heading into earnings For the fourth quarter, Nvidia forecast revenue of $5.88 billion to $6.12 billion, while analysts surveyed by FactSet, on average, have forecast earnings of 76 cents a share on revenue of $6.07 billion.
'Earnings topped Wall Street revenue estimates' This tweet makes no sense whatsoever
Idc just tell me if I can afford a gpu without selling my house
This is strong! Rallying on way weaker numbers!
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