Trump budget calls for Wall Street regulators to face restructuring
WASHINGTON, May 22 Two Wall Street financial regulators would face cuts or major structural changes under President Donald Trump's fiscal 2018 budget proposal
SAN FRANCISCO Nvidia posted first-quarter earnings and revenue above expectations but its revenue outlook for the current quarter fell short of Street estimates.
The Santa Clara, California, chipmaker reported first-quarter revenue rose to $954.7 million on Thursday, from $924.9 million in the year-ago quarter.
It said revenue in the current quarter would be $975 million, plus or minus 2 percent.
Analysts were expecting revenue of $941 million for the quarter ended in April and $1.0 billion for the quarter ending in July, according to Thomson Reuters I/B/E/S.
First-quarter net income was $77.9 million, or 13 cents a share, compared to $60.4 million, or 10 cents a share, in the same quarter last year. Analysts on average expected earnings per share of 10 cents.
It had a record GAAP gross margin of 54.3 percent and non-GAAP gross margin of 54.6 percent in the quarter. It said current-quarter gross margins would be about the same.
Shares of Nvidia rose 2 percent in extended trade after closing up 0.08 percent at $13.91.
(Reporting by Noel Randewich; Editing by Bernard Orr and Carol Bishopric)
BRASILIA, May 22 Brazil's former president Luiz Inacio Lula da Silva has been charged by prosecutors who said the leftist politician was the mastermind behind the country's biggest bribery scheme.
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