| Nvidia has released January-March 2022 financial results with a weak second-quarter revenue guidance. Shares of the GPU maker fell 10.32% in the post-trade session.
The company expects revenue in the range of $8.1 billion (± 2%), while the market consensus was $8.5 billion. Nvidia adjusted its expectations downward by $500 million due to factors “related to Russia and the lockdown in China."
In the first quarter, revenue grew by 46% compared to January-March 2021, to $8.29 billion, against market expectations of $8.1 billion. Adjusted EPS was $1.36 against analysts' forecast of $1.29.
Sales of GPUs for cryptocurrency mining have dropped to “nominal values” against the backdrop of lower prices in the digital asset market compared to $155 million in the same period a year ago. The company did not disclose specific numbers.
In the second quarter of 2021, the figure was $266 million, $105 million in the third and $24 million in the fourth.
Since the beginning of the year, Nvidia shares have fallen in price by 42.3%, relative to the all-time high - by 51%.
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