Quarter Revenue Estimate Fails To Impress Wall Street
Quarter Revenue Estimate Fails To Impress Wall Street . (MENAFN - Live Mint)  By Arsheeya Bajwa and Max A. Cherney  (Reuters) -Nvidia forecast fourth-quarter revenue slightly above estimates on Wednesday, but still failed to meet lofty expectations of ...
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(MENAFN- Live Mint) By Arsheeya Bajwa and Max A. Cherney

(Reuters) -Nvidia forecast fourth-quarter revenue slightly above estimates on Wednesday, but still failed to meet lofty expectations of some investors who have made it the world's most valuable firm.



Shares of the Santa Clara, California-based company fell roughly 2% in extended trading. They had closed down 0.8% on Wednesday.

The company forecast revenue of $37.5 billion, plus or minus 2% for the fourth quarter, compared with analysts' average estimate of $37.09 billion according to data compiled by LSEG.



“The age of AI is in full steam, propelling a global shift to NVIDIA computing,” Nvidia CEO Jensen Huang said.“Demand for Hopper and anticipation for Blackwell - in full production - are incredible as foundation model makers scale pretraining, post-training and inference," he said, referring to two high-performing AI chips.

Expectations ran high ahead of the results, with Nvidia shares up more than 20% over the last two months. The stock has nearly quadrupled so far this year and is up more than nine-fold over the last two years.

While demand is soaring for the company's chips that make up the brains of complex generative AI systems, supply-chain snags have made it harder for Nvidia to report the big beats on revenue that have helped make it a Wall Street darling.

One of the bottlenecks for its chip supply has been the limited capacity for advanced manufacturing techniques at the company's manufacturing partner TSMC.



The company recorded third-quarter adjusted earnings of 81 cents per share, compared to estimates of 75 cents per share.



(Reporting by Arsheeya Bajwa in Bengaluru and Max A. Cherney in San Francisco; Editing by Arun Koyyur and Matthew Lewis)
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https://menafn.com/1108908648/Quarter-Revenue-Estimate-Fails-To-Impress-Wall-Street
2024-11-20
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(MENAFN - Live Mint)  By Arsheeya Bajwa and Max A. Cherney  (Reuters) -Nvidia forecast fourth-quarter revenue slightly above estimates on Wednesday, but still failed to meet lofty expectations of ...
Quarter Revenue Estimate Fails To Impress Wall Street