How Nvidia Is Rebuilding Investor Trust
Real Money Stock of the Day Nvidia released earnings after the bell Thursday night.
Adjusted earnings in Nvidia's first quarter were 88 cents a share, beating forecasts by 30 cents.
Revenue fell to $2.22 billion from $3.21 billion a year ago and came in roughly in-line with forecasts of $2.2 billion.
Gaming revenue of $1.06 billion beat forecasts, while data center revenue declined 10% from a year earlier to $664 million.
Last night, right before the earnings call, shares of Nvidia were up nearly 7%.
However, after the call started and CFO Collette Kress disclosed that Nvidia would be going from yearly guidance to quarterly guidance, shares were only up around 2%.
Action Alerts PLUS senior analyst Jeff Marks discussed the quarter and why he thinks that a quarter to quarter approach may be a good solution as Nvidia rebuilds investor trust.
"They're trying to rebuild shareholder trust by taking a quarter to quarter approach.
And you know, I happen to like a quarter approach, I thought it was a return to growth in gaming, which is key," said Marks.
"And you know, we actually we published an alert on Action Alerts PLUS last night.
It's very thorough.
It goes into all of the inner workings between Gaming Data Center, autonomous driving, all the secular themes that you want to know about if you're in Nvidia." Related.
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