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Stock Market News

Nvidia predicts third-quarter sales below expectations

08/25/2022

Less than a minute

2022.08.25 00:21

Nvidia predicts third-quarter sales below expectations
FILE PHOTO: The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. REUTERS/Tyrone Siu/

(Reuters) – Chip designer Nvidia (NASDAQ:NVDA) Corp predicted third-quarter revenue below market expectations on Wednesday, delivering a one-two punch as weak gaming demand led to a 19% sequential decline in second-quarter sales.

The company expects third-quarter revenue of $5.90 billion, plus or minus 2%, compared with average analysts’ estimate of $6.95 billion, according to Refinitiv data.

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08/25/2022

Less than a minute