| Updated:
Nvidia stock dips after share earnings miss expectations
Shares in Nvidia have slipped today after the chipmaker’s earnings per share scraped the bottom of analyst forecasts.
The US tech giant snagged $0.58 a share versus the $0.70 that was expected by onlookers.
Nvidia did however sail past revenue expectations, securing $5.93bn in the third quarter, above estimates of $5.79bn.
The company, which specialises in graphics chips, also had gaming revenue inch past estimates.
With the global demand for chips retreating slightly amid the economic downturn, Nvidia’s revenue guidance for the final quarter of the year fell short of Wall Street expectations.
The company expects $6bn in revenue, slightly below forecasts of $6.09bn.
Shares tumbled 1.46 per cent to $156.77 a share by 4:00PM Eastern Standard Time.