Nvidia: shares down despite impressive numbers
(CercleFinance.com) - US chipmaker Nvidia exceeded estimates on robust demand in gaming and data centres in the past quarter and raised its guidance.
However shares fell more than 2% in morning trading.
The company, once known for gaming cards, but which is now making chips for datacentres and automotive applications, reported record revenue for the first quarter ended April 29, at 3.2 billion dollars, up 66 per cent year-on-year.
The company reported non-GAAP earnings of 1.28 billion dollars, or 2.05 dollars a share, up from 533 million, or 85 cents a share, in the year-ago period.
Despite these impressive numbers, Nvidia's shares opened down 2.2% at 254.5 dollars Friday morning on the Nasdaq market. They have risen over 34% so far this year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
However shares fell more than 2% in morning trading.
The company, once known for gaming cards, but which is now making chips for datacentres and automotive applications, reported record revenue for the first quarter ended April 29, at 3.2 billion dollars, up 66 per cent year-on-year.
The company reported non-GAAP earnings of 1.28 billion dollars, or 2.05 dollars a share, up from 533 million, or 85 cents a share, in the year-ago period.
Despite these impressive numbers, Nvidia's shares opened down 2.2% at 254.5 dollars Friday morning on the Nasdaq market. They have risen over 34% so far this year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.