Nvidia Corp. (NASDAQ: NVDA) released its most recent quarterly results after the close on Thursday. While the third-quarter results were fairly impressive, there seemed to be more issues raised about Nvidia going forward with guidance.

The company said that it had $1.84 in earnings per share (EPS) and $3.18 billion in revenue, which compares with consensus estimates from Thomson Reuters that had called for $1.71 in EPS and $3.24 billion in revenue. The same period of last year reportedly had EPS of $1.33 on $2.64 billion in revenue.

Looking ahead to the fiscal fourth quarter, the company is calling for $2.70 billion in revenue, give or take 2%, with a gross margin of 62.5%. The consensus estimates are $1.81 in EPS and $3.4 billion in revenue for the quarter.

On the books, Nvidia’s cash, cash equivalents and notable securities totaled $7.59 billion, up from $7.11 billion in the same period last year.

Jensen Huang, founder and CEO of Nvidia, commented:

AI is advancing at an incredible pace across the world, driving record revenues for our datacenter platforms. Our introduction of Turing GPUs is a giant leap for computer graphics and AI, bringing the magic of real-time ray tracing to games and the biggest generational performance improvements we have ever delivered.

Shares of Nvidia closed Thursday at $202.39, in a 52-week range of $176.01 to $292.76. The consensus analyst price target is $287.91. Following the announcement, the stock was down 18% at $166.02 in early trading indications Friday.

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