While the company’s sales beat was overshadowed by an increasingly optimistic outlook, Nvidia’s shares fell in premarket trading in the United States on Thursday.
The company’s fiscal second-quarter gross margin also marginally declined. Before paring losses, the company’s stock fell 4.6% in early premarket trading, but by 10:47 London time (05:47 ET), it had fallen 1.46%.
On Wednesday, Nvidia revealed its July quarter revenue of nearly $30 billion, a 122% increase over the previous year. Revenue increased by triple digits for the fourth consecutive quarter.
The annual comparisons are becoming more difficult, though, since Nvidia keeps growing quickly.
In its fiscal third quarter projections, Nvidia predicted revenue of $32.5 billion, exceeding market expectations. This suggests an 80% yearly growth rate, but a deceleration from the June quarter.
Source (CNBC)
