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
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