Nvidia Stock Slumps After Q2 Earnings, Gaming Chip Sales Outlook

Nvidia Corp. (NVDA) shares fell lower on Thursday after the chipmaker posted a weaker-than-expected second-quarter gain on Wednesday and forecast more weakness in the gaming sector in the coming months.

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% year-on-year to $6.7 billion, a figure broadly in line with the chipmaker’s pre-announcement in early August, but down 19% from last year. the three months ending in April.

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