Nvidia earnings chopped in half, but tweaked servers to China offset earlier $400 million warning

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Nvidia reported third-quarter net income of $680 million, or 27 cents a share, compared with $2.46 billion, or 97 cents a share, in the year-ago period. $NVDA rose after hours – as its earnings topped Wall Street revenue estimates:

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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

'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!

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 3. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Nvidia’s gambit to salvage China data-center sales, gaming-card market questioned heading into earningsNvidia on average is expected to post on Wednesday adjusted earnings of 71 cents a share, down from $1.17 a share a year ago, according to analysts surveyed by FactSet. Here are two big questions $NVDA investors want answers to.
Källa: MarketWatch - 🏆 3. / 97 Läs mer »