Nvidia’s Q1 revenues down 31% to $2.22 billion, beating modest estimates

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Nvidia reported earnings and revenues that were well below last year’s figures, but the graphics and artificial intelligence chips company beat analyst expectations and it is climbing back up after a couple of weak quarters.

Nvidia reported revenues of $2.22 billion, down 31% from a year ago, for the first fiscal quarter ended April 28. Non-GAAP earnings per share were 88 cents, compared with $2.05 a share a year ago. But those numbers beat expectations.

Analysts expected Nvidia to report earnings per share of 81 cents on revenues of $2.19 billion. For the full year, revenues are expected to be $11.05 billion. GAAP earnings are expected to be 56 cents a share.

In the past couple of quarters, the Santa Clara, California-based company was recovering from the slow launch for its new RTX graphics cards and the aftermath of the cryptocurrency bust would hurt its earnings.

Nvidia is in the

 


This article was originally published on on VentureBeat.

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