Nvidia (NVDA) reported second quarter earnings after the bell on Wednesday that beat on the top and bottom lines, though its data center revenue came in just shy of analyst expectations, weighing on the stock in after-hours trading.
The company reported Q2 data center revenue topped out at $41.1 billion. Analysts were expecting $41.3 billion, according to data from Bloomberg. Segment revenue was $26.2 billion in the prior-year period. The numbers didn't include sales of its lower-powered H20 chips into China.
Nvidia also noted that approximately 50% of its data center revenue came from large cloud service providers.
The company's stock price fell more than 3% on the news in after-hours trading.
Nvidia's EPS and revenue growth have moderated over the past few quarters following the massive growth spikes it saw during the onset of the AI craze. Total revenue growth in its latest quarter came in at the slowest pace since the first quarter of its fiscal year 2024.
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Posted by yahoofinance