The Clap
Nvidia’s (NASDAQ: NVDA) earnings for Q2 2022 failed to beat analysts’ expectations as macroeconomic conditions continue to disrupt demand.
The Deets
Nvidia reported EPS of $0.51 and revenue of $6.7 billion, significantly lower than analysts’ expectations.
The earnings indicate a slowdown in the company’s growth and are a poor indicator for the next quarter.
Why this Matters
The company believes that lower sales of gaming products are one of the main drivers for the below-par earnings, as revenue from gaming products was down by 33% YoY for the quarter.
COVID-driven Success
During the pandemic, Nvidia blossomed as remote working conditions drove people to buy graphic cards and boosted revenues by 61% for the 2022 fiscal year.
Nvidia underwhelm in Q2 2022 👎
