Expectations were for Nvidia (NVDA) to have EPS of $.37 for the last quarter, and revenue growth of 23% to $1 billion. After a tough day for tech, the chips company’s numbers were more important than they might be otherwise. Wall St. was looking for a sign that tech was not wounded.
In the regular session, NVDA sold off 6.27% to $33.84, moving almost 22 million shares.
What the company reported was for the third quarter of fiscal 2008, revenue increased to a record $1.12 billion compared to $820.6 million for the third quarter of fiscal 2007, an increase of 36 percent. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the third quarter of fiscal 2008 was a record $235.7 million, or $0.38 per diluted share, an increase of 121 percent compared to the third quarter of fiscal 2007.
The company did not provide guidance with its press release.
The stock was down over 2% after hours.
Douglas A. McIntyre
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