The stock dropped in extended trading after the chipmaker gave a light forecast for the current quarter.
Earlier this month, Nvidia announced that it had reached a settlement with the SEC over disclosures in 2017 about how cryptocurrency mining drove the company's growth. Nvidia said that the growth in gaming was driven by graphics cards for laptops and chips for game consoles. Nvidia said it expected gaming revenue to decline sequentially "in the teens" in the current quarter. The company's results in its smaller lines of business were mixed. But Nvidia continues to increase its revenues strongly and is still seeing robust demand for its graphics processors, which are are widely used for advanced gaming and artificial intelligence in the cloud. Nvidia said revenue for the current quarter would be about $8.1 billion, under analyst expectations of $8.54 billion.
It's only been six months since Nvidia Corp. was being hailed as Wall Street's next $1 trillion tech stock. The memory now seems distant.
Nvidia's latest earnings were better than expected, but the company provided a soft outlook citing impacts from Covid-19 and Russia.
Nvidia shares are trading lower in late trading Wednesday, after the chip maker provided a softer-than-expected outlook for its July quarter. In March, Nvidia had announced the halt of all product sales in Russia. Meanwhile, the issues involving Covid-related manufacturing shutdowns in China are consistent with recent reports from other companies, including both Cisco Systems (CSCO) and Apple (AAPL). The company cited the impact of both reduced business in Russia and Covid-related manufacturing shutdowns in China.
The US software giant has trimmed its Q2 revenue forecasts having enjoyed a better-than-expected first quarter.
Type in NVIDIA’s ticker symbol (NVDA) and the number of shares you want to buy or the amount of money you’re prepared to invest. Many brokerages also allow you to add a ‘stop loss’ once you have bought the shares, which allows you to limit your losses if the share price falls. However, drip-feeding your investment may sacrifice capital growth if the share price is rising and you will also pay more in share-trading fees. If the pound strengthens against the dollar, your shares will be worth less in sterling (and vice versa). At some point, you will want to sell your holdings. Rather than waiting to build up a lump sum, it means an investor’s money can be put to use in the market straightaway. This follows a $2.1 (£1.7) billion return to shareholders in the first quarter via share repurchases and cash dividends. You should be able to buy US shares through most brokerage accounts. NVIDIA benefitted from the rise in demand for video gaming devices and personal computers during the pandemic. Your investment objectives will determine what type of shares you invest in, whether high-growth technology shares or more defensive companies with a reliable dividend stream. As with other US technology stocks, NVIDIA is taking measures to offset rising costs in the challenging macroeconomic environment. NVIDIA decreased its second quarter revenue estimate to $8.1 (£6.4) billion, representing a 2% decrease from the first quarter.
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Eric Cuka has positions in Nvidia. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy. The video was published on May 25, 2022. Nvidia guided lower for the current quarter.
NVDA stock is retreating after the chip maker's Q2 revenue guidance came in below analysts' average estimate.
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. Nvidia estimated that the war in Ukraine and the Covid-19 lockdowns in China would lower its revenue by about $500 million. For 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 (NVDA) shares plunged in extended trading on Wednesday after the chipmaker reported first-quarter results that missed expectations...
Nvidia ( NVDA) attributed the shortfall to roughly a $500 million decline due to Russia's invasion of Ukraine and COVID-related lockdowns in China. Earlier this month, Morgan Stanley restarted coverage on Nvidia ( NVDA), calling it "one of the best growth names" in the semiconductor space. During the quarter, Nvidia ( NVDA) generated $3.75 billion in data center-related revenue, up 83% year-over-year and 15% sequentially. A consensus of Wall Street analysts expected Nvidia ( NVDA) to earn $1.30 per share on $8.09 billion in sales. For the period ending May 1, the Jensen Huang-led Nvidia ( NVDA) said it earned $1.36 per share on $8.29 billion in sales, up 46% year-over-year, thanks to "record revenue in Data Center and Gaming." Nvidia ( NVDA) shares plunged more than 9% to $154.02 on back of the results.