: $0.59, adjusted, versus $0.69 expectedNvidia said it expected about $6 billion in sales in the fourth quarter, lower than Refinitiv consensus estimates of $6.09 billion.
In the past few months, chip companies like Nvidia have been slashing order expectations and warning that their customers are overstocked with computer parts. In May, Nvidia said it would slow the pace of its hiring. Nvidia's gaming division reported $1.57 billion in sales, down 51% year-over-year. Nvidia said it was selling less to retailers because they have more inventory than current demand. It said that macroeconomic conditions, in addition to China's zero-Covid policy, are hurting consumer demand.
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