Nvidia Q1 adjusted EPS $2.05 vs Street’s $1.46 view

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Nvidia’s stock slips on earnings beat following record closing high

Nvidia Corp. shares slid in the extended session Thursday following an earlier gain after the chip maker reported quarterly results and an outlook that topped Wall Street estimates. Nvidia shares fell 2% after hours, following a 1.7% gain to close at a record high of $260.13 in the regular session. The company reported first-quarter net income of $1.24 billion, or $1.98 a share, compared with $507 million, or 79 cents a share, in the year-ago period. Adjusted earnings were $2.05 a share. Revenue rose to $3.21 billion from $1.94 billion in the year-ago period. Analysts surveyed by FactSet had estimated $1.46 a share on revenue of $2.89 billion. For the second quarter, Nvidia estimates revenue of $3.04 billion to $3.16 billion, while analysts expect revenue of $2.95 billion.

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