close
close

first Drop

Com TW NOw News 2024

Nvidia Earnings: Shares Fall as Revenue Forecast Improves, But Not Enough
news

Nvidia Earnings: Shares Fall as Revenue Forecast Improves, But Not Enough

Colette Kress, chief financial officer of Nvidia Corp., said the Chinese market remains highly competitive and the percentage of revenue from data centers is below previous levels.

Kress said Nvidia’s data center revenue in China grew quarter-on-quarter in the fiscal second quarter, making a significant contribution to the company’s revenue, but was below previous levels.

“As a percentage of total data center revenue, it remains below the levels seen prior to the imposition of export controls,” Kress told analysts on the company’s conference call. “We continue to expect the Chinese market to be highly competitive going forward.”

Overall, Nvidia’s data center revenue rose 154% from a year ago to a record $26.3 billion. On a sequential basis, however, data center revenue rose 16%.