Nvidia Stock Falls 5% as Weak Gaming Outlook Torpedoes Guidance
Nvidia (NASDAQ: NVDA) stock dropped 4.6% in after-hours trading on Wednesday, following the graphics chip specialist's release of a second-quarter report for fiscal 2023 that disappointed investors.
Investors were already braced for an anemic report because earlier this month the giant tech company released preliminary Q2 results. In that report, management warned that revenue would be about $6.7 billion, or much lower than the guidance of $8.1 billion it had provided in May. It also indicated (albeit indirectly, by providing a bunch of inputs) that adjusted earnings per share would come in at about $0.51, or far short of its outlook of $1.27 issued in May.
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Source Fool.com
