This suggests that investors of the company are very confident about its future. In addition, the average portfolio weighting allocated towards NVDA among those who do have a position is 7.92%. Out of the 557,672 portfolios tracked by TipRanks, 11.8% hold NVDA stock. The sentiment among TipRanks investors is currently negative. Investor Sentiment for NVDA Stock is Currently Negative The expected decline can once again be attributed to a slowdown in gaming. However, guidance for Q3 did not impress, as revenue is expected to come in at $5.9 billion versus the expected $6.9 billion. Therefore, the company’s operating income decreased from $2.4 billion in the comparable period to $499 million now. To make matters worse, the gross margin contracted from 64.8% to 43.5%, demonstrating significant operating deleverage.

The fall in revenue was primarily due to its Gaming segment, which fell 33% year-over-year and 44% quarter-over-quarter. This wasn’t much of a surprise today, as Nvidia had already warned that it would significantly miss its original guidance of $8.1 billion. However, the quarter-over-quarter comparison equates to a 19% decline. In addition, sales increased 3% year-over-year, with revenue hitting $6.7 billion compared to $6.5 billion. In the past nine quarters, the company has beaten estimates nine times. Adjusted earnings per share came in at $0.51, which beat analysts’ consensus estimate of $0.50 per NVDA share.

Shares of Nvidia ( NVDA) were down in the after-hours session after the company reported earnings for its second quarter of Fiscal Year 2023.

Nvda after hours.