Nvidia earnings: Revenue beats expectations, bottom line falls short

Graphics chip giant Nvidia (NVDA) announced its Q3 earnings after the closing bell on Wednesday, beating analysts’ expectations on revenue, but falling short on earnings per share. Here’s how the company performed compared to Wall Street’s estimates, as compiled by Bloomberg:

Revenue: $5.93 billion versus $5.79 billion expected

Adjusted EPS: $0.58 versus $0.70 expected

Gaming revenue: $1.57 billion versus $1.32 billion expected

Data Center revenue: $3.83 billion versus $3.7 billion expected

Nvidia Q4 revenue guidance fell just short of Wall Street expectations, coming in at $6 billion. Analysts were hoping for $6.09 billion.

Shares of Nvidia were up roughly 2% following the report.

Data Center revenue jumped some 31% year-over-year in the quarter, but gaming revenue collapsed 51% year-over-year

Chip stocks have been hammered this year, as consumer and business demand for electronics has ebbed following the explosive growth the industry saw during the pandemic. Consumers don’t need as…

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This article was written by and originally published on finance.yahoo.com