Nvidia: Fiscal 3Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Nvidia Corp. (NVDA) on Thursday reported fiscal third-quarter net income of $1.23 billion.
The Santa Clara, California-based company said it had profit of $1.97 per share. Earnings, adjusted for non-recurring gains, were $1.84 per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.
The maker of graphics chips for gaming and artificial intelligence posted revenue of $3.18 billion in the period, also missing Street forecasts. Ten analysts surveyed by Zacks expected $3.24 billion.
For the current quarter ending in January, Nvidia said it expects revenue in the range of $2.65 billion to $2.75 billion. Analysts surveyed by Zacks had expected revenue of $3.4 billion.
Nvidia shares have climbed nearly 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 2 percent. In the final minutes of trading on Thursday, shares hit $202.39, a fall of roughly 4 percent in the last 12 months.