1 Big Reason Why Nvidia's Second-Quarter Earnings Results Underwhelmed Investors
Semiconductor company Nvidia (NASDAQ: NVDA) has benefited significantly over the past five years from manufacturing products that enable virtually every major multiyear trend in the tech industry. Consequently, its outstanding revenue growth over the last several years at one point seemed unstoppable. However, its recently reported fiscal 2023 quarter ended in June proved to be a big disappointment for investors.
Here is one big reason why Nvidia's second-quarter earnings results underwhelmed investors.
Nvidia's second-quarter fiscal 2023 total revenues of $6.7 billion were down 19% sequentially and only up 3% year on year. This number was far below the $8.1 billion outlook management provided on the first-quarter fiscal 2023 earnings call. So what was the culprit for this growth slowdown?
Source Fool.com
