Benzinga
Published May 26, 2022 14:04
Updated May 26, 2022 14:40
Why Nvidia Shares Are On The Move Today
NVIDIA Corp (NASDAQ: NASDAQ:NVDA) shares are trading lower Thursday after the company reported financial results and issued guidance below analyst estimates.
Nvidia said first-quarter revenue grew 46% year-over-year to $8.29 billion, which beat the estimate of $8.12 billion, according to data from Benzinga Pro.
The chip company reported quarterly adjusted earnings of $1.36 per share, which beat the estimate of $1.29 per share. Earnings were down 15% year-over-year, but include an after-tax impact of 52 cents related to the $1.35 billion Arm acquisition termination charge.
"We delivered record results in Data Center and Gaming against the backdrop of a challenging macro environment," said Jensen Huang, founder and CEO of Nvidia.
Nvidia said it expects second-quarter revenue of $8.1 billion, plus or minus 2%, versus the estimate of $8.45 billion. The company said its forecast includes an estimated reduction of approximately $500 million related to Russia and COVID-19 lockdowns in China.
Analyst Assessment:
NVDA Price Action: Nvidia has traded between $151.76 and $346.47 over a 52-week period.
The stock was down 3.89% at $163.15 at press time.
Photo: courtesy of Nvidia.
Latest Ratings for NVDA
Mar 2022 | Goldman Sachs (NYSE:GS) | Reinstates | Neutral | |
Feb 2022 | Summit Insights Group | Downgrades | Buy | Hold |
Feb 2022 | Mizuho | Maintains | Buy |
View the Latest Analyst Ratings
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