NVIDIA Corporation (NASDAQ:NVDA) just reported earnings. They did $0.51 versus a $1.25 estimated on revenue of $6.7 billion versus 8.1 billion.
And we expected that considering we got a warning from them a couple of weeks ago. So this is not a surprise.
But still, there’s no doubt that they’re struggling right now.
Their revenue’s up only 3% year-over-year, but their data center revenue is up 61% year-over-year, at about $3.78 billion on the quarter.
NVIDIA Still Strong Company Despite Current Struggles
And considering Nvidia’s a very strong company, they’re just going through some turmoil right now.
They have a strong, competitive advantage.
They’re a dominant player in the industry. I think they’re going to be fine. And as for the stock, it’s down about 5% right now after the bell.
And you can see here on the chart, it is breaking under the moving averages on the four-hour chart.
Let’s see if this continues.
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