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Thursday, June 1, 2023

Nvidia Stock Skids As Muted Gaming Sector Outlook Offsets Q1 Earnings Beat

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Updated at 9:51 am EST

Nvidia  (NVDA) – Get NVIDIA Corporation Report shares slumped decrease Thursday after the chipmaker issued a muted near-term outlook for the sale of its gaming chips that took the gloss off a strong set of first quarter earnings.

Nvidia, which makes each knowledge heart and gaming sector chips — a few of that are used for cryptocurrency mining — posted Street-beating earnings of $1.36 per share for its April quarter final evening as total revenues rose 46% from final 12 months to document $8.29 billion.

Data heart revenues had been up a staggering 83% from final 12 months to $3.75 billion, whereas gaming sector revenues rose 31% to a document $3.62 billion. 

Source: www.thestreet.com

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