Nvidia CFO Colette Kress Says Chinese Revenue Remains Resilient Despite US Imposed Export Controls: 'Expect The China Market To Be Very Competitive Going Forward'
Portfolio Pulse from Ananya Gairola
Nvidia's revenue in China remains strong despite US export controls, with significant contributions from data center sales. The company expects continued competition in the Chinese market. Nvidia's second-quarter revenue exceeded expectations, but gross margins narrowed. Nvidia shares fell 6.89% in after-hours trading.
August 29, 2024 | 4:52 am
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Nvidia's revenue in China is growing despite US export controls, with data center sales contributing significantly. However, the company's gross margin has narrowed, and shares fell 6.89% in after-hours trading.
Nvidia's revenue in China is resilient, but the narrowing of gross margins and the drop in share price indicate investor concerns. The competitive Chinese market and US export controls add uncertainty, impacting short-term stock performance.
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