Graphics chipmaker Nvidia (NVDA) late Thursday beat Wall Street's sales and earnings targets for its fiscal fourth quarter ended Jan. 29. But it guided to in-line sales in the current quarter and signaled that its gross profit margin would slip.After hours the stock is off $3.58 (3.08%) at $112.80.
Nvidia stock was down 2.5% in after-hours trading following the earnings news release. During the regular session Thursday, Nvidia shares fell 1.9% to 116.38, after breaking out on Tuesday.
Results: Nvidia earned $1.13 a share excluding items, up 117% year over year, on sales of $2.17 billion, up 55%, in the January quarter. Analysts polled by Thomson Reuters expected Nvidia to earn 83 cents a share ex items on sales of $2.105 billion in Q4.
Outlook: Nvidia expects sales of $1.9 billion in its fiscal first quarter. It did not give an EPS target. Wall Street has been modeling Nvidia to earn 64 cents a share ex items on sales of $1.88 billion in the March quarter. It is targeting a non-GAAP gross margin of 59.7%, compared with 60.2% in Q4....MORE
more to come.