Nvidia will slow down its hiring pace and control expenses as the company deals with a challenging macroeconomic environment, its CFO Colette Kress said after the company reported fiscal first-quarter earnings on Wednesday.
Nvidia beat analyst expectations for sales and earnings, but the stock dropped more than 10% in extended trading at one point after the chipmaker gave a light forecast for the current quarter.
Here’s how Nvidia did versus Refinitiv consensus estimates for the quarter ending May 1:
- EPS: $1.36, adjusted, versus $1.29 expected
- Revenue: $8.29 billion versus $8.11 billion expected
Nvidia said revenue for the current quarter would be about $8.1 billion, under analyst…