NVIDIA Misses Estimates; Guides In-Line (NVDA)

NVIDIA Corporation DV reports Q2 EPS of $0.03 versus estimates of $0.11. NVIDIA Corporation reports Q2 revenues of $811.2 million versus estimates of $831.88 million. For Q3, the company expects revenue to be up 3 to 5 percent from the second quarter, GAAP gross margin to increase to 46.5 to 47.5 percent, GAAP operating expenses to be approximately $300 million, and a GAAP tax rate of 17 to 19 percent. "Rapidly changing market conditions made for a challenging quarter," said Jen-Hsun Huang, NVIDIA's CEO and president. "We delivered excellent results in Quadro professional graphics, Tesla GPU computing, and our Tegra system-on-a-chip business. But our GeForce consumer business fell significantly short of expectations amid weak PC demand in Europe and China. Although demand among end-users remains uncertain, we expect to drive revenue and grow market share with new products that are gaining momentum in each of our businesses." Shares of NVDA are higher in the after-hours by 5.57%.