Nvidia: shares down slightly after quarterly results.
(CercleFinance.com) - Nvidia shares are falling slightly today after the chipmaker unveiled its quarterly results last night.
For its second quarter to 30 July, Nvidia reported record revenue of 2.23 billion dollars, up 56% from last year.
The company's net income jumped to 583 million, or 92 cents per share, in the quarter, from 507 million dollars, or 41 cents per share, a year earlier.
Jefferies analysts - who have a "buy" rating on the shares with a target price of 180 dollars - think that investors are disappointed in the datacenter quarterly deceleration.
"Datacenter increased by 175% year-on-year, but decelerated to 2% quarter-to-quarter (from 38%) as Nvidia started transitioning to its next generation datacenter GPU, Volta," the broker said.
After these results, Nasdaq-listed Nvidia shares are down 4.7% at 157 dollars. However, the stock has still risen by almost 50% year-to-date.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
For its second quarter to 30 July, Nvidia reported record revenue of 2.23 billion dollars, up 56% from last year.
The company's net income jumped to 583 million, or 92 cents per share, in the quarter, from 507 million dollars, or 41 cents per share, a year earlier.
Jefferies analysts - who have a "buy" rating on the shares with a target price of 180 dollars - think that investors are disappointed in the datacenter quarterly deceleration.
"Datacenter increased by 175% year-on-year, but decelerated to 2% quarter-to-quarter (from 38%) as Nvidia started transitioning to its next generation datacenter GPU, Volta," the broker said.
After these results, Nasdaq-listed Nvidia shares are down 4.7% at 157 dollars. However, the stock has still risen by almost 50% year-to-date.
Copyright (c) 2017 CercleFinance.com. All rights reserved.