This was due to material weakness in the semiconductor market that was serious enough for management to try and pre-empt a major sell-off.Īlso read: Nvidia Stock Deep Dive Analysis: NVDA price target at $205 with strong revenue growth NVDA shares are flat in the premarket at $171.76 as the leading fabless semiconductor designer already released preliminary results at the beginning of the month. Nvidia (NVDA) will unveil earnings for the second fiscal quarter of 2023 after the close on Wednesday, August 24. Nvidia earned adjusted EPS of $0.51 in the second quarter, missing consensus by a penny. This sharply lowered guidance for Q3 comes after management released preliminary Q2 revenue in early August that surprised the market with a $6.7 billion figure, well under the expected $8.1 billion. “We are navigating our supply chain transitions in a challenging macro environment, and we will get through this,” said CEO Jensen Huang. Management said they expected revenue of $5.9 billion for Q3 due to continued deceleration in the gaming segment. Though it was the second quarter earnings that was the reason for the release, the focus was entirely on Q3. Shares are down a somewhat better 3% in Thursday's premarket at $167.
UPDATE: Extremely poor guidance for the third quarter led Nvidia stock to sell off afterhours on Wednesday. NVDA pre-reported Q2 revenue due to demand weakness.Wall Street consensus is for adjusted EPS of $0.52 on $6.7 billion in sales.Nvidia will release official Q2 earnings after the close on August 24.
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