Nvidia posted its third-quarter adjusted earnings, which exclude stock-based compensation expenses and other items, of 58 cents a share, much lower than the year-ago quarter’s $1.17 a share. Analysts had expected 71 cents a share.
The fabless company’s revenue fell to $5.93 billion from $7.1 billion in the year-ago quarter as gaming sales plunged. The figure is still higher than analysts’ estimate of $5.78 billion.
Data-center sales climbed +31% year-over-year to $3.83 billion, vs. analysts' expectations of $3.72 billion. Gaming sales plummeted -51% to $1.57 billion from a year ago, vs. analysts’ forecast $1.42 billion.
For the fourth quarter, Nvidia is expecting revenue of $5.88 billion to $6.12 billion, while analysts surveyed by FactSet forecast revenue of $6.07 billion.
PC market decreasing, and crypto mining hurt by falling digital coin prices pose potential headwinds for Nvidia’s revenues.