NVIDIA Falls as Soft Guidance on Russia, China Lockdown Impact Spook Investors
2022.05.25 23:51
NVIDIA Earnings, Revenue Beat in Q1
By Yasin Ebrahim
Investing.com — Nvidia (NASDAQ:NVDA) reported second-quarter guidance that fell short of estimates and overshadowed first-quarter results that topped expectations on both the top and bottom lines.
NVIDIA shares lost 5.8% in after-hours trade following the report.
The company forecast second-quarter sales of $8.1 billion, give or take 2%, short of estimates for $8.44 billion, flagging a $500 million hit owing to Russia’s invasion of Ukraine and Covid-related lockdowns in China.
The weaker guidance offset quarterly results that topped Wall Street estimates, led by record revenue in its data center and gaming divisions.
NVIDIA announced earnings per share of $1.36 on revenue of $8.29B. Analysts polled by Investing.com anticipated EPS of $1.3 on revenue of $8.12B.
Revenue in its gaming business grew 31% to a record $3.62 billion for the quarter year-on-year, while its data center sales jumped 83% to record of $3.75 billion from a year earlier.
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