Nvidia Stock Little Changed on Earnings Miss, Revenue Beat
Shares of Nvidia (NASDAQ: NVDA) were up 1.5% as of 7:04 p.m. ET in after-hours trading on Wednesday, following the graphics-chip specialist's release of its third-quarter report for fiscal 2023.
The market's relatively muted initial reaction isn't surprising since both the third-quarter results and fourth-quarter guidance were "mixed," in Wall Street lingo. Third-quarter revenue exceeded the analyst consensus estimate, while the quarter's profit missed the estimate. The fourth-quarter guidance scenario was the opposite, with the top-line outlook coming in lower than the Street had expected, while the bottom-line forecast slightly surpassed the expectation.
None of the beats or misses, however, were that sizable. Given the challenging macroeconomic environment, most investors were probably satisfied with the report.
Source Fool.com