NVDA slips on 74% gross margin guide for October
NVDA fell slightly after a 74% gross margin guide for October. Street had expected 74.8%. The company reported 106% year-over-year revenue growth, versus 107% in April, and guided revenue up 3%.
NVDA down slightly on gross margin guide of 74% in Oct.
Street was at 74.8%.
Big picture, the AI growth story is intact.
Now have to wait for the call.
Besides the margin guide, the numbers looked great.
They reported revenue growth of 106% yy, compared to 107% in April (adjusting for China sunset a year ago).
The reported growth in July is similar growth rates as April in face of law of large numbers is a win.Street was looking for 95% yy growth in July.
Guide was a similar upside that they showed last quarter.
Guided up 3%.
Last quarter guided the out quarter up 4.3%.
That's also a win. -- GENE MUNSTER