Nvidia (NVDA) reported third quarter earnings after the bell on Tuesday that exceeded Wall Street’s expectations as the artificial intelligence hype cycle remains a focal point for investors.
The chipmaker reported earnings per share of $4.02 on revenue of $18.12 billion, both of which surpassed analyst expectations. Analysts had predicted earnings per share of $3.36 on revenue of $16.1 billion, according to Bloomberg data.
The company’s revenue guidance for the current quarter is $20 billion, with a margin of error of plus or minus 2%. Analysts had projected fourth quarter guidance of $17.8 billion.
Concerns about new restrictions on chip exports to China were raised prior to the report, and Nvidia CFO Colette Kress confirmed that it will impact the company’s future sales.
“Our sales to China and other affected destinations, which come from products that now require licensing, have consistently accounted for approximately 20-25% of Data Center revenue in recent quarters,” Kress said in a…
2023-11-21 16:29:52
Article from finance.yahoo.com
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