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• Shares of the company fell 6.7% in extended trading
Nvidia Corp (NASDAQ: NVDA) on Wednesday forecast second-quarter revenue lower than Wall Street expectations amid supply-chain constraints.
Shares of the company fell 6.7% in extended trading, down 40% so far this year.
The chip maker forecast second-quarter revenue of $8.10 billion, plus or minus 2%, compared to expectations of $8.45 billion, according to Refinitiv.
In the estimated reduction in revenue, about $500 million are due to Russia-Ukraine war and the COVID-19 lockdowns in China.
In the first quarter ended May 1, revenue rose 46% to $8.29 billion while the company earned, excluding items, $1.36 per share, beating estimates of $1.29.
“We delivered record results in Data Center and Gaming against the backdrop of a challenging macro environment,” said Jensen Huang, founder and CEO of Nvidia.
Picture Credits: Reuters
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