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The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The company reported that, primarily as a result of a decline in the sales of its products used in crypto mining, the company’s “other revenue” category had tumbled 52% YOY.īefore today, NVDA stock had tumbled 42% so far this year. Nvidia also had negative news for the cryptocurrency sector. Nevertheless, Nvidia CEO Jensen Huang said that “the underlying dynamics of the gaming industry is really solid.”

The company anticipates that its revenue from them would fall by 13%-19% in Q2, compared with Q1.

Revenue from its gaming chips, however, grew by a much lower 31% YOY. The company reported that the demand for its graphics processors remains strong, while the sales of its data center chips had soared 83% YOY last quarter. Weakening Game Demand Weighs on NVDA Stock In other words, it appears that, if not for those two negative catalysts, the chip maker’s Q2 revenue would have exceeded analysts’ average estimate. Nvidia estimated that the war in Ukraine and the Covid-19 lockdowns in China would lower its revenue by about $500 million. Its top line jumped 46% year over year to $8.28 billion, compared with the mean outlook of $8.08 billion.įor Q2, however, the chip maker predicted that its top line would be $8.1 billion, “plus or minus 2%.” Analysts, on average, had expected Nvidia’s Q2 sales to be $8.44 billion. Nvidia reported adjusted Q1 earnings per share of $1.36, versus analysts’ average estimate of $1.29. The chip maker noted that the war in Ukraine and the lockdowns in China would meaningfully lower its Q2 revenue. Nvidia (NASDAQ: NVDA) stock fell in pre-market trading after the company reported stronger-than-expected first-quarter results but provided Q2 revenue guidance below estimates.

Nvda earnings disappoint