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Nvidia trounces estimates for earnings and revenue, shares still tank
11 August 2017, 02:52 | Dale Webster
Shares have risen 181 per cent over the past year, the strongest performance across the benchmark S&P 500 index.
Nvidia, which has been diversifying into newer technologies including self-driving cars and artificial intelligence, originally came into prominence in the gaming industry for designing graphics processing chips, that are also used for cryptocurrency mining.
Cryptocurrencies like Bitcoin are helping to drive revenue growth for GPU makers like Nvidia, and despite market volatility, it's a revenue stream that isn't going anywhere, Nvidia's CEO said Thursday.
"Nvidia was priced for perfection heading into earnings", said Loop Capital analyst Betsy Van Hees, adding the company did not have any room for anything but perfection.
The digital currency market has gone through some major ups and downs this year, prompting many to conclude the emergent market is in a bubble. "Data center revenue increased more than two and a half times".
The data centre business is still relatively small and is driven by small number of customers who can change preferences tremendously from quarter to quarter, said Bernstein analyst Stacy Rasgon.
As a result, he's profiting off NVIDIA 2Q F2018 earnings, as the chip maker's stock slumped in after-hours trade falling by more than 4% to as low as $157.95, although Left has said he expects it to fall much further at some point.
"Cryptocurrency and blockchain is here to stay. And over time, it will become quite large", Mr Huang said. The gross margin improved to 58.4 percent from 57.9 percent a year ago, and the company's net earnings more than doubled, to USSD 583 million or USD 0.92 per share from USD 261 million or USD 0.41 per share.
Even with rising demand for GPUs, Nvidia shares fell as much as 8 percent following Thursday's report, as data center revenue trailed analysts' estimates.
The Santa Clara, California-based company's revenue rose for the fifteenth consecutive quarter to $2.23 billion from $1.43 billion.
Guam a 'pawn' in US-North Korea confrontation - academic
The exclamation came after President Donald Trump warned Pyongyang of "fire and fury like the world has never seen". In 2013, the Army sent a missile defense system to Guam called Terminal High Altitude Area Defense or THAAD.
Expert reacts to latest North Korean threat of Guam attack
Baik went on to say that North Korea's remarks about Guam "are not helpful for the advancement of inter-Korean relations". Cheong Wa Dae officials brushed off the latest threats from the North to turn South Korea into a sea of fire.
London Midland loses rail franchise
The government has awarded the West Midlands rail franchise to a new consortium instead of the current holder London Midland. This is to ensure the new franchise will be responsive to regional needs.
At least 36 killed, 13 injured in bus crash in China
Highway accidents are common in China because of high speeds, aggressive driving and a failure to leave adequate braking distance. The coach was travelling from the southwestern city of Chengdu to Luoyang city in China's central Henan province.
Getting close on Afghanistan strategy
Exhausted of waiting for the Trump administration to unveil a revamped strategy for the war in Afghanistan , Sen. McCain said bluntly, "We are losing in Afghanistan and time is of the essence if we intend to turn the tide".
Browns rally past Saints in preseason opener
Daniel Lasco then went up the gut for the 2 point conversion and a 7 point Saints lead. "He made some plays", Jackson said. Given the way the other quarterbacks played, it nearly seems like Jackson has to give Kizer a longer look.