Nvidia forecasts second-quarter revenue above estimates

(Reuters) - Nvidia Corp reported a better-than-expected quarterly profit and forecast second-quarter revenue above analysts' estimates on strong demand for its gaming chips and higher sales to data centres, sending its shares up more than 4%. The company forecast revenue of $2.55 billion, plus or minus 2%, for the quarter, above analysts' expectations of $2.53 billion, according to IBES data from Refinitiv. Nvidia's net income fell to $394 million, or 64 cents per share, in the first quarter ended April 28 from $1.24 billion, or $1.98 per share, a year earlier.

Reuters May 17, 2019 05:05:48 IST
Nvidia forecasts second-quarter revenue above estimates

Nvidia forecasts secondquarter revenue above estimates

(Reuters) - Nvidia Corp reported a better-than-expected quarterly profit and forecast second-quarter revenue above analysts' estimates on strong demand for its gaming chips and higher sales to data centres, sending its shares up more than 4%.

The company forecast revenue of $2.55 billion, plus or minus 2%, for the quarter, above analysts' expectations of $2.53 billion, according to IBES data from Refinitiv.

Nvidia's net income fell to $394 million, or 64 cents per share, in the first quarter ended April 28 from $1.24 billion, or $1.98 per share, a year earlier.

Excluding items, Nvidia earned 88 cents per share, while analysts had expected a profit of 81 cents per share. Total revenue fell to $2.22 billion, but was still above analysts' estimates of $2.20 billion.

(Reporting by Sayanti Chakraborty in Bengaluru; Editing by Anil D'Silva)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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