UPDATE: Nvidia Posts Better-Than-Expected Q2 Profit, Issues Upbeat Revenue Forecast
Nvidia (NASDAQ: NVDA) reported a drop in its second-quarter profit.
Nvidia's quarterly profit declined to $119 million, or $0.19 per share, versus a year-ago profit of $151.6 million, or $0.25 per share. Its adjusted profit came in at $0.27 per share.
Its revenue rose to $1.04 billion, from $1.02 billion. However, analysts were projecting a profit of $0.14 per share on revenue of $1 billion.
For the current quarter, Nvidia projects revenue of $1.15 billion of $1.25 billion, versus analysts' estimates of $1.09 billion.
Nvidia shares closed at $14.71 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.