Nvidia Stock Slips Lower On Q2 Earnings, Muted Near-Term Outlook

Updated at 4:55 PM EST

Nvidia Corp. (NVDA) posted weaker-than-expected second-quarter earnings on Wednesday, but noted that earnings were broadly in line with the early August update amid a large drop in video game division sales.

Nvidia posted adjusted earnings of 51 cents per share for the three months ended July, the group’s fiscal second quarter, well below Street’s consensus forecast of $1.26 per share. The group’s revenues, Nvidia said, were up 3% from last year to $6.7 billion, a figure broadly in line with the chipmaker’s advance announcement in early August.

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