Nvidia reported solid earnings late Wednesday but provided a revenue forecast for the July quarter that was below expectations. For its April quarter, the semiconductor company reported adjusted earnings per share of 81 cents,

FactSet estimates see first-quarter earnings of $0.73 per share and revenue of $43.3 billion, up 66 percent from a year ago. While that sounds strong in a vacuum, it’s a slowdown from the triple-digit expansion Nvidia posted in 2024, when revenue was up 262 percent year-over-year the same quarter.