NVIDIA Corporation Q1 Profit Increases, beats estimates

(RTTNews) - NVIDIA Corporation (NVDA) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $2.04 billion, or $0.82 per share. This compares with $1.62 billion, or $0.64 per share, in last year's first quarter.

Excluding items, NVIDIA Corporation reported adjusted earnings of $2.71 billion or $1.09 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.3% to $7.19 billion from $8.29 billion last year.

NVIDIA Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $2.04 Bln. vs. $1.62 Bln. last year. -EPS (Q1): $0.82 vs. $0.64 last year. -Analyst Estimate: $0.92 -Revenue (Q1): $7.19 Bln vs. $8.29 Bln last year.

-Guidance: Next quarter revenue guidance: $11 Bln