The so-called chip king has reduced guidance three times this year. But more trouble lies ahead, in a crypto card glut and competition from Advanced Micro Devices. Read More...
Reuters
Nvidia forecasts sharp drop in third-quarter sales as games drag
(Reuters) -Graphics chip designer Nvidia Corp on Wednesday forecast a sharp drop in revenue in the current quarter on the back of a weaker gaming industry, knocking its shares down about 5% in after-hours trading. The company said it expected third quarter revenue of $5.90 billion, down 17% on year, but said the declines would be partially offset by growth in the data center and automotive business. “We think Nvidia may see further downside from the crypto-mining and data center end markets,” said Kinngai Chan, Summit Insights Group analyst.
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