Nvidia warns of lower second-quarter revenue on gaming weakness

:Nvidia Corp on Monday warned its second-quarter revenue would drop by 19 per cent from the prior quarter on weakness in its gaming business, sending the chip designer's shares down about 5 per cent in early trading.

The gaming industry, largely considered to be recession proof, is beginning to see some weakness as consumers weigh purchases of discretionary items such as laptops and video game consoles. Chipmakers have been struggling with worsening supply-chain snarls due to the Russia-Ukraine conflict and COVID-19 curbs in China manufacturing hubs.

Last month, Xbox-maker Microsoft reported a slump in gaming revenue while PlayStation maker Sony trimmed its forecast on waning consumer interest as a lack of new games and easing of COVID-19 constraints hit gaming demand.

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Nvidia expects second-quarter revenue to drop on gaming weakness:Nvidia Corp said on Monday it expects second-quarter revenue to drop 19 per cent from the prior quarter on weakness in its gaming business, sending the chip designer's shares down about 7 per cent in premarket trading. Concerns over inflation are spreading through the U.S. economy, as consumers weigh purc
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Nvidia expects second-quarter revenue to drop on gaming weakness:Nvidia Corp said on Monday it expects second-quarter revenue to drop 19 per cent from the prior quarter on weakness in its gaming business, sending the chip designer's shares down about 7 per cent in premarket trading. Concerns over inflation are spreading through the U.S. economy, as consumers weigh purc
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »