Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
Regional stability, oil prices and potential for war will all depend on what Iran does with its nuclear program in the event of the deal's termination.World Politicsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
On Saturday, Disney's Marvel Studios announced its upcoming slate of superhero films during a panel at San Diego Comic-Con.Entertainmentread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
In terms of guidance, the company said it expects to generate $2.35 billion in revenue, plus or minus 2 percent, in the third quarter of its 2018 fiscal year. Analysts were expecting guidance of $2.13 billion for the upcoming quarter, according to Thomson Reuters.
Strong reactions to earnings results are not unusual for Nvidia, which is popular with investors these days as the company has emphasized the importance of its graphics processing units for artificial intelligence. In May after the company released its earnings results for the previous quarter, beating estimates on both EPS and revenue. Ahead of earnings on Thursday Nvidia stock closed down more than 4 percent.
Revenue was up 56 percent year over year, with the company's Datacenter revenue -- including sales of GPUs to public cloud providers like Amazon Web Services -- leading the way at 175 percent revenue growth, even though it was up just 2 percent sequentially. That -- and selling on the news -- could explain the stock drop despite the earnings beat, Patrick Moorhead of Moor Insights & Strategy told CNBC. Indeed, sales in the Datacenter segment ended up below the FactSet analyst estimate, according to StreetAccount.
Nvidia's gaming revenue -- the biggest contributor to the company's top line -- was up 52 percent year over year, and it beat analysts' estimates, according to StreetAccount.
Sentiment around Nvidia has continued to be generally positive since then. Last month Canaccord Genuity raised its estimates for Nvidia "yet again" as it sees continuing strength in the gaming and automotive markets.
The opportunity around cryptocurrency has caused some analysts to become more optimistic about Nvidia. Two months after Pacific Crest downgraded Nvidia stock, the company made a U-turn and .
"Our strategy is to stay alert to this fast-changing market, knowing that GPUs are highly efficient at running the algorithms used to mine cryptocurrencies," Nvidia executive vice president and chief financial officer Colette Kress told financial analysts on the company's quarterly earnings call.
Nvidia's next quarter could see gains as the company increases the sales of its Volta Tesla V100 GPUs, which will also be listed under the company's Datacenter business -- shipments of GPUs based on the Volta architecture have indeed begun, Nvidia said. The quarter was a transition in the move from Pascal architecture to Volta, Nvidia CEO Jen-Hsun Huang said on the conference call.
Volta is especially designed to accommodate AI workloads, not unlike second-generation tensor processing unit (TPU), which will become available for anyone to use exclusively on Google's public cloud. Meanwhile has been , and Microsoft said it's for its HoloLens mixed reality headset.
"Nvidia GPU is basically a TPU that does a lot more," Huang said.
In the quarter Nvidia did not receive revenue as a result of its patent license agreement with Intel. That deal wrapped up in the first quarter of the 2018 fiscal year, when revenue came out to $43 million, Nvidia said.
In May through its Vision Fund, .
Nvidia stock -- , as CNBC's Tae Kim noted on Wednesday -- is up 55 percent since the beginning of the year, according to FactSet.