Is it fair to say Nvidia beat expectations, if retail investors always expect that the company will exceed expectations?
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribecontinue to dazzle. The chipmaker beat earnings per share and revenue expectations: net income, at $16.6 billion, more than doubled compared with a year ago, while revenue surged 122%.
For its recently concluded quarter, Nvidia earned $30.04 billion in revenue, higher than the $28.7 billion expected. Even better, it said it anticipates around $32.5 billion in revenue for the current quarter, outstripping the $31.7 billion estimated by analysts. That's perhaps the only figure that came in below consensus expectations. Analysts were looking at 76.4% for full-year margin.
Nvidia's earnings came out after the bell, but they had investors on edge and dragged the broader U.S. indexes lower Wednesday.
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