NVIDIA: 2Q results and weak outlook did not please analysts, but long-term trend remains optimistic
Nvidia Corp. on Wednesday provided a third-quarter outlook after the market closed that was much lower than analysts expected. The chipmaker has faced a number of challenges, including declining demand for its gaming and professional visualization products, macroeconomic pressures and supply-chain disruptions.
Shares of Nvidia $NVDA fell as much as 2% in early Thursday trading, but then turned higher, adding 4%.
Along with the 2Q results, NVIDA also announced a weak outlook
Nvidia reported its Q2 results after the market closed Wednesday. The company missed earnings per share and missed its Q3 forecast due to slowing PC and gaming sales after the sectors saw sharp growth in 2020 and 2021. Here are the most important numbers from the report compared to what analysts were expecting.
- Revenue: $6.7 billion vs. $6.7 billion expected
- Adj. EPS: $0.51 vs. $0.53 expected
- Data Centers: $3 .8 billion vs. $3.8 billion expected
- Gaming: $2.0 billion vs. $2.0 billion expected
Nvidia also…
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Shares of NVIDIA Corp. NVDA, -5.91% shed 5.91% to $191.62 Monday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX, -1.30% falling 1.30% to 4,017.77 and Dow Jones Industrial Average DJIA, -0.77% falling 0.77% to 33,717.09. The stock's fall snapped a six-day winning streak. NVIDIA Corp. closed $97.84 short of its 52-week high ($289.46), which the company achieved on March 29th.
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