NVIDIA Corporation Q1 Profit Decreases, but beats estimates

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

The company's earnings came in at $1.62 billion, or $0.64 per share. This compares with $1.91 billion, or $0.76 per share, in last year's first quarter.

Excluding items, NVIDIA Corporation reported adjusted earnings of $3.44 billion or $1.36 per share for the period.

Analysts on average had expected the company to earn $1.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 46.5% to $8.29 billion from $5.66 billion last year.

NVIDIA Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $1.62 Bln. vs. $1.91 Bln. last year. -EPS (Q1): $0.64 vs. $0.76 last year. -Analyst Estimates: $1.29 -Revenue (Q1): $8.29 Bln vs. $5.66 Bln last year.