Nvidia’s Estimates-Beating Results Fail to Sustain Record Rally
- Shares had marched to a high on expectation of strong earnings
- Sales to volatile cryptocurrency market spark investor concern
Nvidia's First-Quarter Sales Get Cryptocurrency Boost
This article is for subscribers only.
Nvidia Corp. reported quarterly sales that topped expectations, although a bigger-than-anticipated portion of the demand for its powerful graphics processors came from the volatile cryptocurrency market.
While the chipmaker generated $289 million in sales to cryptocurrency miners in the first quarter, that revenue may fall by two-thirds in the current period, Nvidia said. It was the first time the company had specified sales connected to the cryptocurrency market -- and shares declined as much as 3.8 percent in extended trading.