Wall Street analysts expected Nvidia Corporation (NASDAQ: NVDA) to have EPS of $0.37 for the last quarter and revenue growth of 23% to $1 billion.
As things turned out for the company in the third quarter of fiscal 2008, revenue increased to a record $1.12 billion, compared to $820.6 million for the third quarter of fiscal 2007, which was an increase of 36%. Net income computed in accordance with GAAP for the third quarter of fiscal 2008 was a record $235.7 million, or $0.38 per diluted share, an increase of 121% compared to the third quarter of fiscal 2007.
The company did not provide any guidance in its press release, so traders were left felling a bit naked. PC sales are obviously doing well enough to drive up NVDA sales, but investors have to wonder whether that will last. The market was uncomfortable not knowing more and not seeing a tremendous improvement over expectation. The share moved down 3.2% after hours.
Douglas A. McIntyre is an editor at 247wallst.com.
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Reader Comments (Page 1 of 1)
11-11-2007 @ 7:58PM
Jim said...
Strange, I show it up 8% after hours. Maybe you spoke too soon?