Pinwan, Aug. 8, Nvidia issued a warning today that its second-quarter revenue would fall by 19% from the previous quarter due to a sluggish gaming business, causing the company’s stock price to fall about 5% in early trading.
Today, Nvidia released preliminary second-quarter results. Revenue is expected to be $6.7 billion, down 19% sequentially and up 3% year-over-year, mainly due to the sluggish performance of the gaming business. The revenue fell short of Nvidia’s previous forecast of $8.1 billion and analysts’ average estimate of $8.1 billion.
Nvidia expects game business revenue to reach $2.04 billion in the second quarter, down 44% month-on-month and 33% year-on-year. In contrast, data center business revenue will reach $3.81 billion, up 1% sequentially and up 61% year-over-year.
Just a few days ago, Intel and Sony also lowered their annual performance forecasts, mainly worried about falling demand. Today, consumers are increasingly wary of buying non-essential items like laptops and video game consoles, leading to some weakness in the gaming industry, which is seen as weathering the downturn.
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- 2022-08-08NVIDIA expects second-quarter revenue of $6.7 billion, sluggish demand for games will lead to a 19% month-on-month decline
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- 2022-02-16NVIDIA’s fourth-quarter revenue was $7.643 billion, a year-on-year increase of 53%
- 2021-11-17NVIDIA’s third-quarter revenue was $7.1 billion, and net profit increased by 84% year-on-year
- 2021-11-03NVIDIA’s market value catches up with Facebook, soaring over $380 billion this year
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