Nvidia's AI-Powered Earnings, Revenue, and Guidance Crush Estimates

Shares of Nvidia (NASDAQ: NVDA) were down 1.5% in after-hours trading on Tuesday as of 6:27 p.m. ET following the graphics chip specialist's release of a powerful report for the third quarter of fiscal 2024 (ended Oct. 29).

The stock's movement is not reflective of the company's third-quarter results, as both revenue and adjusted earnings per share (EPS) crushed Wall Street's consensus estimates. Moreover, management's fourth-quarter guidance for both the top and bottom lines raced by analysts' expectations.

The stock's slight decline is attributable to chief financial officer Colette Kress' commentary about the U.S. government's new and expanded restrictions on the company's exports to China and certain other countries of its artificial-intelligence (AI) enabling products that exceed certain performance thresholds. As Kress wrote:

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Source Fool.com