Why Nvidia Stock Is Falling Today
Nvidia (NASDAQ: NVDA) stock is falling Thursday following the release of the company's second-quarter earnings results. The artificial intelligence (AI) leader's share price was down 3.2% as of 10:15 a.m. ET, according to data from S&P Global Market Intelligence.
Nvidia published Q2 results after the market closed yesterday and delivered results that were significantly better than most targets on Wall Street. The company also issued guidance for the third quarter that beat the average analyst estimate. But expectations were sky-high heading into the report, and comments from the investor conference call suggested that investors may have to wait longer for the semiconductor specialist's next-generation Blackwell processors.
Nvidia recorded non-GAAP (adjusted) earnings of $0.68 per share on revenue of $30 billion in the second quarter of its current fiscal year, which ended July 28. Meanwhile, the average analyst estimate had called for the business to post adjusted earnings of $0.64 on revenue of $28.7 billion. The company's sales were up 122% year over year in the period, and adjusted earnings per share were up 152% compared to the prior-year period.
Source Fool.com
