Graphics-chip maker Nvidia ( NVDA ) late Wednesday beat Wall Street’s estimates for its fiscal fourth quarter and guided higher for the current period. NVDA stock jumped in extended trading. The Santa Clara, Calif.-based company earned an adjusted 88 cents a share on sales of $6.05 billion for the quarter ended Jan. 29. Analysts polled by FactSet had predicted Nvidia earnings of 81 cents a share on sales of $6.02 billion. On a year-over-year basis, Nvidia earnings dropped 33% while sales sank 21%. Gaming chip sales remained weak in the fourth quarter, falling 46% year over year to $1.83 billion. However, data center chip sales rose 11% to $3.62 billion, fueled by cloud service providers investing in artificial intelligence technology. In Nvidia’s smaller business segments, professional visualization sales plummeted 65% to $226 million while automotive and embedded sales surged 135% to a record $294 million. NVDA Stock Jumps On Upbeat Report For the current quarter, Nvidia forecast sales of $6.5 billion, down 22% from the same quarter last year. But that topped Wall Street’s target of $6.31 billion for the first quarter. In after-hours trading on the stock market today , NVDA stock jumped 7.1% to 222.18. During the […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
