NVIDIA stock jumped after the company reported strong earnings results. The chip maker earned 44 billion dollars during the first quarter. Company leaders said they generated 96 cents per share after removing the issues with China sales. CEO Colette Kress warned that new rules will cost them 8 billion dollars next quarter. The company expects 45 billion dollars for the second quarter.
Revenue numbers beat what experts predicted at 43.29 billion dollars. Profit margins fell short at 61 percent compared to expectations. Earnings per share missed targets at 81 cents versus 93 cents predicted. China's trade restrictions have significantly hurt its computer chip sales. The company was unable to ship $ 2.5 billion worth of products last quarter.
Different business areas showed mixed results across the board. Data centers generated $39.1 billion but fell short of analyst predictions. Computer sales reached 34.2 billion dollars, falling short of estimates. Network equipment sales reached $ 4.96 billion, beating the $ 3.54 billion target. Car technology sales generated 567 million dollars during the quarter.
Stock prices rose 5.5 percent after regular trading hours ended. Investors were pleased with the results, despite some areas missing their targets. The company spent less money on operations and research than expected. NVIDIA faces challenges in selling chips to Chinese customers as it advances. Trade rules make it difficult to compete effectively there.
Revenue numbers beat what experts predicted at 43.29 billion dollars. Profit margins fell short at 61 percent compared to expectations. Earnings per share missed targets at 81 cents versus 93 cents predicted. China's trade restrictions have significantly hurt its computer chip sales. The company was unable to ship $ 2.5 billion worth of products last quarter.
Different business areas showed mixed results across the board. Data centers generated $39.1 billion but fell short of analyst predictions. Computer sales reached 34.2 billion dollars, falling short of estimates. Network equipment sales reached $ 4.96 billion, beating the $ 3.54 billion target. Car technology sales generated 567 million dollars during the quarter.
Stock prices rose 5.5 percent after regular trading hours ended. Investors were pleased with the results, despite some areas missing their targets. The company spent less money on operations and research than expected. NVIDIA faces challenges in selling chips to Chinese customers as it advances. Trade rules make it difficult to compete effectively there.
