UPDATE 1-Nvidia revenue forecast beats estimates; shares rise [Reuters]
NVIDIA Corporation (NVDA)
Last nvidia corporation earnings: 2/13 04:20 pm
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Source: Reuters
Nvidia revenue forecast beats estimates; shares rise - Reuters 2 Min Read (Reuters) - Nvidia Corp reported a better-than-expected quarterly profit and forecast second-quarter revenue above analysts’ estimates, boosted by higher demand for its gaming chips, sending its shares up 6% in extended trading. Nvidia has entered into newer growth areas such as data centers, artificial intelligence and self-driving cars as it looks beyond its bread-and-butter business of selling chips that enhance video game graphics. The company has grown at a rapid pace in the past few years, but a slowdown in China and trade tensions were expected to weigh on its operations. “Despite the near-term pause in demand from hyperscale customers, the application of AI continues to accelerate,” said Chief Executive Officer Jensen Huang. The company forecast revenue of $2.55 billion, plus or minus 2%, for the quarter, above analysts’ expectations of $2.53 billion, according to IBES data from Refinitiv. The positive f
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