Nvidia data-center sales top $1 billion for first time, earnings beat expectations

Nvidia Corp.’s data-center sales topped $1 billion for the first time at the start of 2020 and beat expectations for earnings and sales, but shares were sluggish in late trading Thursday following nearly a week of record closes.

Shares, which had declined about 1% immediately after the release, were last up 0.2% in after-hours trading, after a 2.2% decline in the regular session to close at $351.01. Thursday’s regular session was the first decline for Nvidia’s stock after a run of four consecutive closes at record highs. Nvidia launched new data-center products like its A100 graphics-processing unit last week as part of its annual GTC event, introducing a new architecture for its GPUs, dubbed Ampere. Chief Executive Jensen Huang said then that the new chips were already being shipped to customers, including the largest cloud-computing offerings such as Amazon.com Inc.’s AMZN, -2.05% Amazon Web Services, Microsoft Corp.’s MSFT, -1.20% Azure and Alphabet Inc.’s GOOGL, -0.17% GOOG, -0.27% Google Cloud.

Patrick Moorhead, principal analyst at Moor Insights & Strategy, called the quarter “phenomenal” given the pandemic.

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