Nvidia announced its January-March 2022 financial results, with weak second-quarter revenue guidance. Shares of the GPU maker were down 10.32% in the post-trading session.
The company expects revenue in the range of $8.1 billion (± 2%), market consensus of $8.5 billion, while Nvidia adjusted its expectations down $500 million due to “lockdown-related factors in Russia and China.”
First-quarter revenue increased 46% from January-March 2021 to $8.29 billion, against market expectations of $8.1 billion. EPS It was $1.36 versus analysts’ forecast of $1.29.
GPU sales for cryptocurrency mining have fallen to “nominal values” against the backdrop of lower prices in the digital asset market compared to $155 million in the same period a year ago. The company did not disclose specific numbers.
This figure was $266 million in the second quarter of 2021, $105 million in the third quarter and $24 million in the fourth quarter.
Since the start of the year, the price of Nvidia shares has fallen 42.3% from its all-time high – 51%.
remember in May SEC It fined Nvidia $5.5 million for misrepresenting the impact of mining on the company’s business.
Previously, the graphics processor manufacturer had won a lawsuit similar to the one filed by the regulator.
Source: Fork Log
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