Investing.com - NVIDIA (NASDAQ:NVDA) reported third quarter earnings that beat analysts' expectations on Thursday and revenue that fell short of forecasts.
The firm reported earnings per share of $1.84 on revenue of $3.18B. Analysts polled by Investing.com expected EPS of $1.72 on revenue of $3.24B. That compared to EPS of $1.33 on revenue of $2.64B in the same period a year earlier. The company had reported EPS of $1.76 on revenue of $3.12B in the previous quarter.
NVIDIA shares lost 14.72% to trade at $172.60 in after-hours trade following the report.
For the year, NVIDIA shares are up 4.59%, outperforming the S&P 500 which is up 1.73% year to date.
NVIDIA follows other major Technology sector earnings this month
On Thursday, November 1, 2018, Apple reported fourth quarter EPS of $2.91 on revenue of $62.9B, compared to forecasts of EPS of $2.78 on revenue of $61.46B.
Microsoft earnings beat analyst's expectations on Wednesday, October 24, 2018, with first quarter EPS of $1.14 on revenue of $29.08B. Investing.com analysts expected EPS of $0.96 on revenue of $27.88B
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