NVIDIA Stock – Nvidia current-quarter revenue forecast beats expectations
The pandemic-led demand for chips used in personal computers, gaming devices and data centers has continued as remote working and learning trends are likely to carry on.
Nvidia is also benefiting from a boom in cryptocurrency mining, though the company has tried to use technical changes to steer miners away from its gaming chips and toward purpose-built chips for mining.
The company expects current-quarter revenue of $6.30 billion, plus or minus 2%, compared with analysts’ estimates of $5.5 billion, according to IBES data from Refinitiv.
The company’s total revenue was $5.66 billion during the first quarter, beating estimates of $5.41 billion.
Nvidia‘s shares fell nearly 1% in extended trading.
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