Crypto news

Nvidia shares fell sharply in price

 

Nvidia reported financial results for January-March 2022, providing a weak revenue forecast for the second quarter. The graphics processor maker’s shares fell 10.32% in the after-trade session.

The company expects revenue in the $8.1 billion range (± 2%), while the consensus market forecast was $8.5 billion. Nvidia adjusted its expectations downward by $500 million because of factors “related to Russia and the lockdown in China.”

First-quarter revenue rose 46% versus January-March 2021 to $8.29 billion, against market expectations of $8.1 billion. Adjusted EPS was $1.36 versus analysts’ forecast of $1.29.

Sales of cryptocurrency mining GPUs dipped to “nominal values” against $155 million in the same period a year ago amid a decline in prices in the digital asset market. The company did not disclose specific figures.

Since the beginning of the year, Nvidia shares have fallen by 42.3%, relative to the historical high – by 51%.

Recall, Nvidia video cards managed to bypass the limitation of mining.

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