NVIDIA (NVDA) Q1 Results 'Strong', Susquehanna Says; Remains 'Neutral'-rated

Susquehanna analyst Chris Caso commented on NVIDIA (NASDAQ: NVDA) following the early release of Q1 results, which he described as "strong."

Caso commented, "NVDA released preliminary earnings results before the market open today. The release was issued because the company erroneously sent a draft of the financial results to an internal distribution list of about 100 individuals. The initial result suggests strong upside to revenue and EPS estimates, consistent with our preview note from yesterday. We also noted yesterday that our checks indicated some slowing momentum in desktop graphics entering the seasonally slower July quarter, though the company did not release 2Q financial guidance in the release. Full results and guidance will be provided with the company's scheduled earnings call on Thursday, May 8. We will revisit our estimates after the call."

The firm maintained a Neutral rating and price target of $16.00

For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $18.63 yesterday.

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