Nvidia’s Revenue Sinks 24%, but Wall Street Feared Worse
Falling demand for chips used in cryptocurrency mining and gaming weighs on the company’s results
Nvidia Corp. reported a 24% drop in quarterly revenue Thursday and signaled work ahead to shake off a funk in cryptocurrency mining and revive demand for its chips used by videogamers and data centers.
It was Nvidia’s first quarterly year-over-year revenue decline in five years and the steepest in nearly a decade.
Shares, though, popped more...