That is because NVIDIA Corp is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat.
The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report. Nvidia said that it paid a $1.35 billion termination charge, which came out to a negative impact of 52 cents per share on a GAAP basis.Investors are always looking for stocks that are poised to beat at earnings season and NVIDIA Corporation NVDA may be one such company. It spent $2.1 billion on share buybacks and dividends in the first quarter.Įarlier this year, Nvidia terminated a large purchase of Arm, a chip technology company. Nvidia said its board has authorized an additional $15 billion in share buybacks through the end of next year. Nvidia said that its cryptocurrency-specific products, CMP, drove a 52% decline in other revenue, as revenue was "nominal" during the quarter. Professional visualisation for workstations grew 67% annually to $622 million, but the company's automotive business was down 10% on a year-over-year basis to $138 million.Įarlier this month, Nvidia announced that it had reached a settlement with the SEC over disclosures in 2017 about how cryptocurrency mining drove the company's growth. The company's results in its smaller lines of business were mixed.
Nvidia said it expected gaming revenue to decline sequentially "in the teens" in the current quarter. The company said that inventory of its graphics chips for gaming, which had been difficult to find at retail prices for the past year, had "normalized," suggesting that the shortage is starting to abate.
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