Thursday saw a decline in Nvidia’s stock price as the company’s gross margin for the fiscal second quarter decreased somewhat and its revenue beat was overshadowed by a backdrop of progressively higher expectations.
On Thursday, the company’s shares dropped by almost 6%. On Wednesday, Nvidia revealed its July quarter sales, which increased by 122% year over year to almost $30 billion.
The revenue growth was in the triple digits for the fourth consecutive quarter. However, the yearly comparisons are becoming more difficult since Nvidia keeps growing quickly.
For the third quarter of its fiscal year, Nvidia provided revenue projections for the period that beat the market by $32.5 billion. That would suggest a slowdown from the July quarter but an 80% year-over-year rise.
Source (CNBC)
