Nvidia has warned that its second-quarter revenue would fall 19% from the previous quarter, citing weakness in the company’s gaming business, which is a major source of revenue.<\/p>\n
Nvidia reported preliminary results for the second quarter and is expected to report total revenue of about $6.70 billion on August 24. Analysts had projected revenue of $8.1 billion, with a contribution from gaming at $3.12 billion.<\/p>\n
According to preliminary results, Nvidia gaming unit’s revenue which includes sales of high-end graphics cards for desktops and laptops, fell 44% quarter-on-quarter to $2.04 billion.<\/p>\n
Nvidia increased the supply of processors for cryptocurrencies, which generated about $266 million in the second quarter of 2021.<\/p>\n
Data Center revenue hit a record levels, but fell short of estimates, mainly due to supply chain disruptions. Nvidia added that quarterly results will include charges of $1.32 billion due to excess inventory and obligations in anticipation of demand.<\/p>\n
Nvidia is an American technology company that develops graphics processors, GPUs, application programming interface (APIs) for data science and high-performance computing.<\/p>\n