August 16, 2018 / 8:32 PM / a year ago

Nvidia forecasts revenue below estimates

Aug 16 (Reuters) - Nvidia Corp forecast third-quarter revenue below Wall Street estimates on Thursday, overshadowing a profit beat and sending its shares down nearly 6 percent in extended trading.

The company forecast current-quarter revenue of $3.25 billion, plus or minus two percent, whereas analysts on average were expecting revenue of $3.34 billion, according to Thomson Reuters I/B/E/S.

Nvidia’s net income rose to $1.1 billion, or $1.76 per share, in the second-quarter ended July 29, from $583 million, or 92 cents per share, a year earlier.

Excluding items, Nvidia earned $1.94 per share.

Total revenue rose 40 percent to $3.12 billion.

Analysts on average had expected a profit of $1.66 per share and revenue of $3.10 billion, according to Thomson Reuters I/B/E/S.

Reporting by Sonam Rai in Bengaluru and Stephen Nellis in San Francisco; Editing by Sriraj Kalluvila

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