Nvidia Misses Expectations - TheStreet

Nvidia Misses Expectations

Profit grows, but shares fall on trader dismay.
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SAN FRANCISCO --

Nvidia

(NVDA) - Get Report

grew its bottom line 33% in the first quarter, but fell short of Wall Street estimates.

The Santa Clara, Calif., maker of graphics chips earned $176.8 million, or 30 cents a share, vs. $132.3 million, or 22 cents a share at this time last year.

Excluding stock option compensation costs, Nvidia said it earned 36 cents a share -- two cents shy of the average analyst expectation of 38 cents.

Nvidia reported revenue of $1.15 billion in the three months ended April 27, in line with analyst expectations. At this time last year, Nvidia had sales of $844 million.

Shares of Nvidia were recently off $1.70, or 7.7%, to $20.25.

The company did not provide financial guidance for the current quarter, but is scheduled to hold a conference call with analysts later Thursday.