NVIDIA First-Quarter Profits Jump 41 Percent
First-quarter profits jumped more than 41% at Nvidia, topping the Street’s expectations. In the period ending April 30, the graphics chipmaker on Thursday said it earned $90.7 million, or 23 cents a share. That was up from the previous year, when the company earned $64.4 million, or 18 cents a share. Sales rose 17% year over year to $681.8 million. Too bad the market sank today across the board. Shares of NVIDIA were down $1.05 or 3.56% today.
Nvidia did not immediately offer guidance for its second quarter. The sell-side had previously predicted that the company would earn 27 cents a share excluding options expenses on sales of $654 million in the current quarter. In the same period last year, the company earned a split-adjusted 20 cents a share on sales of $574.8 million.
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