The company said it expected third quarter revenue of $5.90 billion, down 17% on year, but said the declines would be partially offset by growth in the data center and automotive business."We think Nvidia may see further downside from the crypto-mining and data center end markets," said Kinngai Chan, Summit Insights Group analyst.
The company's second quarter revenue of $6.70 billion was significantly lower than the $8.10 billion Nvidia forecast in May. The gaming industry has been showing signs of weakness as consumers pull back from discretionary purchases such as video-gaming gear amid decades-high inflation. "I know the demand is strong, but we expected the demand to be even stronger," Huang told Reuters about the write down of data center inventory.
Source: News Formal (newsformal.com)
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