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!
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »