Nvidia Stock Falls On Sales Miss, Weak Guidance, Excess Inventory

▤ Summary

Graphics-chip maker Nvidia ( NVDA ) late Thursday missed Wall Streets sales target for its fiscal third quarter and guided below analyst views for the current period.Analysts polled by Thomson Reuters expected Nvidia to earn $1.71 a share on sales of $3.24 billion."Our near-term results reflect excess channel inventory post the cryptocurrency boom, which will be corrected," Chief Executive Jensen Huang said in a news release .Nvidias data-center business is strong as customers use its graphics processors for artificial intelligence applications, Huang said.The companys professional visualization and automotive platform businesses also are doing well, Chief Financial Officer Colette Kress said in a written statement.

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NVIDIA Corporation

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