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.
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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