Chipmaker Nvidia called its quarterly crypto mining chip revenue “nominal” for the second quarter in a row as sales for its “OEM and Other” business unit continued to fall. $NVDA By NelWang
Chip giant Nvidia said its cryptocurrency mining processor sales were once again “nominal” for its 2023 fiscal second quarter ended July 31, down from $266 million a year ago. The chipmaker used the same term to describe its CMP sales in theNvidia’s said overall second-quarter revenue for the business unit fell 66% to $140 million from the same quarter last year driven by lower notebook OEM sales, according to its.
The “OEM and Other” unit contributed only about 2% of total second-quarter revenue. Sales of the CMP unit continued to decline with the price of cryptocurrencies in general. In Nvidia’sNvidia’s total second-quarter revenue was $6.7 billion, in line with the consensus estimate of $6.7 billion, according to FactSet. In early August, Nvidia, saying it expected revenue to come in at $6.7 billion, well short of its previous guidance of $8.1 billion, primarily owing to lower gaming revenue. Adjusted earnings per share of 51 cents beat consensus estimates of 50 cents. Nvidia also gave fiscal third-quarter sales guidance of $5.90 billion, plus or minus 2%, well short of the consensus estimate of $6.9 billion.Read more:
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