Nvidia forecasts a drop in revenue in the 2nd quarter, hurt by the video games business
(Reuters) – Nvidia said on Monday it expects second-quarter revenue to fall 19 percent from the previous three months, due to worsening sales at its video games business.
The chip designer’s stock was down 4.55% on Wall Street at around 1415 GMT.
Concerns about inflation are spreading through the US economy and prompting consumers to re-evaluate purchases of certain products such as laptops and video game consoles.
In its segment dedicated to video games, Nvidia reported preliminary sales of $ 2.04 billion (2 billion euros) for the second quarter, down 44% compared to the first three months of the year.
The company, which expects revenue of about $6.70 billion for the second quarter, up from $8.10 billion previously forecast, is due to report results on August 24.
(Reporting by Nivedita Balu in Bangalore; French version by Kate Entringer)
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