NVIDIA Corp Stock Performance Disappoints Expectations
Earnings Report Fails to Impress
Key Points
- NVIDIA Corp (NVDA) reported earnings that fell short of analysts' estimates.
- The semiconductor company posted a 15% year-over-year decline in revenue for its most recent quarter.
- The disappointing results sent NVDA stock price plummeting in after-hours trading.
NVIDIA Corp (NVDA) reported earnings on Wednesday, August 9th, that disappointed Wall Street analysts. The semiconductor company posted a decline in revenue and earnings for its most recent quarter, missing estimates. The news sent NVDA stock price tumbling in after-hours trading.
For the quarter ended July 31st, NVIDIA reported revenue of $6.51 billion, down 15% year-over-year. The company also reported earnings per share (EPS) of $0.76, down 21% year-over-year. Both the revenue and EPS figures came in below analysts' estimates.
The disappointing earnings report sent NVDA stock price down over 5% in after-hours trading. The stock is now trading at around $190 per share, down from a high of over $340 per share in November 2022.
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