Nvidia Beats Q1 Estimates; Provides Weak Guidance

Nvidia

released its fiscal first-quarter earnings after the closing bell on Thursday. The chip-maker's results topped Wall Street estimates, but the company's Q2 guidance came in below expectations. In late trading, the stock was last trading up 1.37 percent to $14.10. Nvidia reported net income of $77.9 million or $0.13 per share, compared to $60.4 million or $0.10 per share, in last year's corresponding quarter. Adjusted net income for the quarter was $113.8 million or $0.18 per share, versus $97.5 million or $0.16 per share, in last year's corresponding period. This easily topped analysts' consensus EPS estimates of $0.10. Revenue for the period was up 3.2 percent to $954.74 million from $924.88 million last year. This also came in ahead of Wall Street sales expectations of $940.54 million. Looking ahead to the second-quarter, Nvidia guided for revenue of $975 million, plus or minus 2 percent. Currently, analysts have consensus sales estimates of $1.01 billion for the fiscal second-quarter.