Nvidia: shares fall after third-quarter results
(CercleFinance.com) - Nvidia shares were down 2% on Thursday after the company reported its third-quarter results.
The chipmaker reported GAAP net earnings of 1.3 billion dollars, or 2.12 dollars a share, for the quarter ending 25 October, compared with a net profit of 899 million dollars, or 1.45 dollar a share, last year.
Revenue jumped 57% to over 4.7 billion dollars, with Nvidia giving a rosy outlook for its fourth quarter, expecting higher revenue at around 4.8 billion dollars.
However, Nvidia shares fell nearly 2% in early trading as investors remained concerned that the company's data center chip, which represents the core of AI applications and high-performance computing in data centers, is under pressure.
"The Ampere super-cycle is to peak soon, and normalization in 2022 is most likely," one trader said.
"With the stock +130% year-to-date, exceptional results were met withlukewarm reception," analysts at Credit Suisse pointed out.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The chipmaker reported GAAP net earnings of 1.3 billion dollars, or 2.12 dollars a share, for the quarter ending 25 October, compared with a net profit of 899 million dollars, or 1.45 dollar a share, last year.
Revenue jumped 57% to over 4.7 billion dollars, with Nvidia giving a rosy outlook for its fourth quarter, expecting higher revenue at around 4.8 billion dollars.
However, Nvidia shares fell nearly 2% in early trading as investors remained concerned that the company's data center chip, which represents the core of AI applications and high-performance computing in data centers, is under pressure.
"The Ampere super-cycle is to peak soon, and normalization in 2022 is most likely," one trader said.
"With the stock +130% year-to-date, exceptional results were met withlukewarm reception," analysts at Credit Suisse pointed out.
Copyright (c) 2020 CercleFinance.com. All rights reserved.