![]() Nvidia said that the miss was because of lower sales of its gaming products, which are primarily graphics cards for PCs. Nvidia’s gaming department revenue was down 33% year-over-year to $2.04 billion, which was a sharper decline than the company anticipated. The chipmaker said it expected $5.9 billion in sales in its fiscal third quarter, versus Refinitiv consensus estimates of $6.95 billion. Revenue: $6.7 billion versus $8.10 billion expected.EPS: $0.51, adjusted, versus $1.26 expected.Here’s how Nvidia did versus Refinitiv consensus estimates: Nvidia stock fell over 4% in extended trading. Nvidia missed on revenue but Refinitiv estimates didn’t change after the company warned on guidance and said it expected to report $6.7 billion in the quarter. It also warned its gross margin would drop. The chipmaker warned that it would miss Wall Street estimates and that growth had slowed significantly because of disappointing gaming sales driven by macroeconomic conditions. The report is in line with Nvidia’s preliminary earnings two weeks ago. Nvidia reported second quarter earnings that missed Wall Street expectations for revenue and earnings per share. ![]()
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