Chipmaker Nvidia Shares Slump in After-Hours Trading Despite Solid Earnings Report

Concerns over projected gross margins and Blackwell chips may have led the after-hours drop, analysts say.

The logo of NVIDIA at its corporate headquarters in Santa Clara, Calif., in May 2022. Courtesy of NVIDIA/Handout via Reuters

Chipmaker Nvidia’s latest quarterly earnings report failed to impress investors, even as the tech titan topped Wall Street estimates and extended its streak of blockbuster growth.

After Wall Street’s closing bell on Aug. 28, the chip juggernaut reported that revenues rose $30 billion, rocketing 122 percent annually during the quarter after three consecutive periods of year-over-year growth that surpassed 200 percent. This was also up 15 percent from the previous quarter.