Nvidia result Q3 2019

The Nvidia share fell as much as 16 percent on Thursday after the company reported earnings for the third quarter of 2019 fiscal year, which ended 28th October. Leaders will discuss the results with analysts at a conference call at 5:30

How did the company:

  • Earnings: $ 1.84 per
  • Revenue: $ 3.18 billion, against $ 3.24 billion as expected by analysts, according to Refinitive.

For guidance, Nvidia said it expects $ 2.70 billion in revenue in the fourth quarter, plus us minus 2 percent, excluding certain goods. It is below the Refinitive Consensus estimate of $ 3.40 billion.

Overall, revenue in fiscal third quarter was 21[ads1] percent higher than the previous year, according to a statement. 19659006] Nvidia, like most other tech stocks, was hit hard October, which was the worst month for the Nasdaq Composite Index since 2008. The stock has now risen 4 percent since the beginning of the year.

In the second quarter's earnings, the chip maker did not fall by the analyst es expectations for guidance despite hitting revenue and revenue estimates.

Most of Nv IDIA's revenues come from its gaming chip segment, followed by data center revenue. The company's cryptocurrency mining products have had a sharp decline last year, which is expected to continue, as it has become less profitable to use graphics processing units or GPUs for mining, according to a recent Susquehanna analysis.

To my crypto currency, computers are competing to solve complex math problems in exchange for a certain amount of bitcoin or ethereum. However, as both currencies have fallen in value, this also has this segment of revenues for Nvidia.

"Our short-term results reflect the need for redundant channel inventory after the crypto-currency boom, which will be corrected," said Nvidia CEO Jensen Huang. "As of today, Nvidia's game industry generated $ 1.76 billion in revenue during the quarter under $ 1.89 billion FactSet consensus estimate.

Nvidia's data center segment came in at $ 792 million in revenue, lower than $ 821 million estimate.

Revenues for the company's professional visualization industry were $ 305 million, exceeding the estimate of $ 284 million

WATCH: Nvidia reports revenue on Thursday, and traders play for an even bigger wave

[19659000] This is breaking news. Please check back for updates.

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