Nvidia Plummets After Warning on Revenue, Especially in China
- Shares plunge most in two months on fourth-quarter guidance
- Gaming and datacenter revenue are below expectations
Nvidia graphic processing units sit stacked inside a 'mining rig' computer.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
Nvidia Corp. fell the most in two months after cutting its outlook for fourth-quarter revenue, reflecting weaker than forecast sales of gaming and datacenter platforms due to a slowing global economy, especially in China.
The biggest maker of chips for computer graphics cards said it sees fiscal fourth quarter revenue of about $2.2 billion, down from a previous forecast of about $2.7 billion. The shares plunged as much as 18 percent. They were down 15 percent to $136.90 at 11:48 a.m. in New York. In November, the company’s forecast for the fourth quarter missed analysts’ estimates.