NVDA falls after earnings for the first time in nearly 2 years

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Nvidia stock fell by 6 percent on Thursday after the company reported better-than-expected earnings and lower-than-expected revenue guidance.

Here are the major numbers:

  • Earnings: $1.76 per share, excluding certain items, vs. $1.66 per share as expected by analysts, according to Thomson Reuters.
  • Revenue: $3.12 billion, vs. $3.10 billion as expected by analysts, according to Thomson Reuters.

Overall, Nvidia’s revenue grew 40 percent year over year in the second quarter of its 2019 fiscal year, which ended on July 29, according to a statement.

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With respect to guidance, Nvidia says it expects to post $3.25 billion in revenue, give or take 2 percent, in the fiscal third quarter; analysts were expecting $3.34 billion for that period, according to Thomson Reuters. That outlook excludes contributions from cryptocurrency products, Nvidia chief financial officer Colette Kress told analysts on a conference call on Thursday.

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www.cnbc.com/2018/08/16/nvidia-earnings-q2-2019.html

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