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Nvidia earnings Q1 2020



Jensen Huang, chief executive officer of Nvidia Corp.

David Paul Morris | Bloomberg | Getty Images

Chipmaker Nvidia saw an increase of 7% on Thursday after it reported better than expected revenue for the first quarter of fiscal 2020.

Here are the main numbers:

  • Earnings: 88 cents per share, excluding items, compared to 81 cents per share as expected by analysts, according to Refinitiv.
  • Earnings: $ 2.22 billion, compared to $ 2.20 billion as expected by analysts, according to Refinitiv. [1
    9659007] Nvidia said in a statement that revenue was declined by 31% year over a quarter-year, ended on April 28. Profits have fallen in two quarters.

    The first decline relates to "loss" of $ 289 million in revenues from graphics processing units for mining cryptocurrencies, in addition to gaming performance and data center markets.

    Net income in The quarter that did not include some items fell to $ 543 million, or 88 cents per share, from $ 1.29 billion, or 2.05 per share.

    In honor of the guide, Nvidia calls for $ 2.55 billion in revenues, plus or minus 2%, in the fiscal second quarter, indicating a year-over-year decline of 18.3%. Analysts reviewed by Refinitiv sought $ 2.54 billion in revenue in the second quarter of the financial year.

    Kevin Cassidy of Stifel wrote in a Monday report to note that Nvidia likely deleted quarterly channel inventory for its gaming graphics processing units. The income in Nvidia gaming business segment will fall by 14% over the fiscal year of 2020, "due to a hard start of the year and higher competition in pressing" prices, Cassidy wrote.

    Nvidia said the gaming segment came out in the quarter with $ 1.06 billion in revenues, less than 39% over the year but over $ 933.5 million agreed with analysts surveyed by FactSet.

    The company's Data Center business segment has a revenue of $ 634 million, lower than the $ 663.7 million estimation of the FactSet consensus.

    The Professional Visualization business contributed $ 266 million in revenue, less than estimated $ 290 million, while Automotive was almost larger than the $ 164 million revenue estimate, at $ 166 million .

    The stock of Nvidia has reached 20% since the beginning of the year, but [25659002] In March, Nvidia announced its intention to buy Israeli networking hardware company Mellanox for nearly $ 7 billion to help boost its business data center.

    Executives will discuss the results of analysts at a conference call at 5:30 pm. Eastern time

    This is breaking news. Please check back for updates.

    Watch: Nvidia CEO Jensen Huang with Mellanox acquisition


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