Nvidia reported financial results for January–March 2022, providing a weak outlook for second-quarter revenue. In after-hours trading, the graphics-chip maker’s shares fell by 10.32%.
The company expects revenue in the range of $8.1 billion (± 2%), while market consensus stood at $8.5 billion. Nvidia trimmed its guidance by $500 million due to factors related to Russia and the lockdown in China.
In the first quarter, revenue rose 46% year over year to $8.29 billion, versus market expectations of $8.1 billion. Its EPS was $1.36, above analysts’ consensus of $1.29.
Sales of graphics processors for cryptocurrency mining, amid falling prices in the digital-asset market, fell to nominal levels versus $155 million in the same period a year earlier. The company did not disclose specific figures.
In the second quarter of 2021 the figure was $266 million, $105 million in Q3 and $24 million in Q4.
Since the start of the year, Nvidia’s shares have fallen 42.3%, off the all-time high by 51%.
Earlier this May, the U.S. Securities and Exchange Commission fined Nvidia $5.5 million for misreporting data on the impact of mining on the company’s business.
Earlier, Nvidia, the graphics-chip maker, won a case similar to the regulator’s claims.
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