NVIDIA Corporation Q1 adjusted earnings Beat Estimates

(RTTNews) - NVIDIA Corporation (NVDA) released earnings for first quarter that dropped from the same period last year.

The company's profit totaled $394 million, or $0.64 per share. This compares with $1244 million, or $1.98 per share, in last year's first quarter.

Excluding items, NVIDIA Corporation reported adjusted earnings of $543 million or $0.88 per share for the period.

Analysts had expected the company to earn $0.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 30.8% to $2.22 billion from $3.21 billion last year.

NVIDIA Corporation earnings at a glance:

-Earnings (Q1): $543 Mln. vs. $1285 Mln. last year. -EPS (Q1): $0.88 vs. $2.05 last year. -Analysts Estimate: $0.79 -Revenue (Q1): $2.22 Bln vs. $3.21 Bln last year.

-Guidance: Next quarter revenue guidance: $2.55 Bln