Nvidia sinks after cutting its guidance (NVDA)

pulse

August 17, 2018 7:56 AM

The chipmaker topped Wall Street's earnings on Thursday, but slashed its third quarter revenue forecast.

Nvidia topped Wall Street's earnings expectations on Thursday but cut its third-quarter revenue forecast.
The chipmaker now expects third-quarter revenue to be around $3.25 billion where the Street had previously expected $3.34 billion.

Shares of Nvidia fell 6% in after-hours trading Thursday following a guidance cut from the chipmaker despite posting second-quarter earnings that topped Wall Street's expectations.

Here are the key figures:

Earnings: $1.94 per share where analysts had expected $1.85.

Revenue: $3.12 billion where analysts had expected $3.11 billion.

The company also announced plans to return $1.25 billion to shareholders in fiscal year 2019, starting with a $0.15 dividend per share on September 21 to all shareholders on record as of August 30.

For the third quarter, Nvidia forecasted its revenue to be within 2% of $3.25 billion where the Street had expected $3.34 billion.

Shares of Nvidia closed down 0.35% Thursday after falling as much as 1.5% in regular trading ahead of the report.

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