New York, Aug. 25, (dpa/GNA) - Chip specialist Nvidia saw a drop in second-quarter profit compared to the same period last year, the US firm said its latest quarterly report on Wednesday.
The company’s bottom line totalled $0.66 billion, or $0.26 per share, compared to $2.37 billion, or $0.94 per share, in last year’s second quarter.
Excluding items, Nvidia reported adjusted earnings of $1.29 billion or $0.51 per share for the period.
The company’s revenue for the quarter rose 2.9% to $6.70 billion from $6.51 billion last year. Nvidia had expected more than $8 billion but its gaming business was weaker than expected.
For the current quarter, the California-based company forecasts sales of about $5.9 billion – more than a billion dollars less than in the same quarter last year and significantly less than analysts expected.
Nvidia’s graphics cards are used in computers, sales of which are currently slowing. They are also used for producing cryptocurrencies, which has recently become less lucrative as their value has dropped.
Gaming revenue fell by one-third year-on-year to $2.04 billion, while data centre business revenue rose to $3.81 billion – up 61%.
GNA