The computer chip manufacturer and technology company reported first-quarter results for fiscal 2022 results that beat Wall Street expectations
Nvidia’s earnings came during sustained and significant growth in its business despite the semiconductor shortage worldwide.
The company posted a revenue of $5.66 billion and an EPS of $3.66, surpassing the consensus. The market was looking for earnings-per-share of $3.28 on revenues of $5.41 billion. Moreover, its sales came in 84% higher compared to the year-ago quarter. The graphics segment was up 81% to $3.45 billion in revenue, while the gaming products brought in a revenue of $2.76 billion, 106% up from last year.
For the current quarter, the company expects $6.30 billion in revenue, which could mark a 62% increase from last year’s figures.
At the moment of writing, Nvidia stock price is trading more than 0.40% higher.
Sources: cnbc.com, finance.yahoo.com
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