Nvidia's revenue guidance is difficult to adjust, and it once fell 8% after the market.
2024-08-28 20:52:15
NVIDIA revenue guidance crowd difficult to adjust after hours once plungeddesk3cryptocurrencydesktopCrypto News
Aug. 29 (Xinhua) -- NVIDIA (NVDA. O) posted a revenue forecast that fell short of the most optimistic market expectations, raising concerns that its explosive growth is waning. The company said Wednesday that revenue for its fiscal third quarter would reach about $32.50 billion. While analysts' average estimate was $31.90 billion, the highest estimate was $37.90 billion. The company also said it was working to address production hurdles for its highly anticipated next-generation Blackwell chip, weighing on the company's share price in after-hours trading. The announcement followed concerns about problems with NVIDIA's Blackwell design. NVIDIA acknowledged production problems and said it was making changes to boost its output. At the same time, the company said it expected the product to bring in "billions of dollars" in revenue in the fourth quarter. After the release of the earnings report, Nvidia's US stock market rose and then fell, with a maximum decline of 8%.
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
