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Nvidia reports lower second quarter revenue in preliminary earnings
By Shubhangi Mathur - Aug 09, 2022, 10:30 AM ET
Last Updated - Mar 13, 2024, 11:25 AM EDT
Nvidia Corp (NASDAQ: NVDA) released its preliminary earnings showing second-quarter revenue much below its earlier forecast
Nvidia Corp (NASDAQ: NVDA) released its preliminary earnings showing second-quarter revenue much below its earlier forecast.
According to the preliminary earnings, Nvidia posted revenue of $6.7 billion, compared to its initial outlook of $8.1 billion.
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Slump in gaming revenue, which is down 33% from the prior year, has been the main factor in lower-than-expected revenue.
The report is “primarily attributable to lower sell-in of Gaming products reflecting a reduction in channel partner sales likely due to macroeconomic headwinds,” the company said.
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The company is scheduled to report fiscal second-quarter results on August 24.
Picture Credits: Getty Images
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