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To: Return to Sender who wrote (88811)	8/8/2022 9:31:39 AM
From: Return to Sender	1 Recommendation Recommended By Sr K Respond to of 95572

NVIDIA lowers Q2 revenue guidance; shortfall was primarily attributable to lower sell-in of Gaming products reflecting a reduction in channel partner sales likely due to macroeconomic headwinds 9:03 AM ET 8/8/22 \| Briefing.com Co issues lowered guidance for Q2 (Jul), sees Q2 (Jul) revs of $6.7 bln from $7.94-8.26 bln vs. $8.09 bln S&P Capital IQ Consensus. Co sees Q2 gross margin of 46.1%, plus or minus 50 bps versus prior guidance of 67.1%, plus or minus 50 bps. Gaming revenue was $2.04 billion, down 44% sequentially and down 33% from the prior year. Data Center revenue was $3.81 billion, up 1% sequentially and up 61% from the prior year.The shortfall relative to the May revenue outlook of $8.10 billion was primarily attributable to lower sell-in of Gaming products reflecting a reduction in channel partner sales likely due to macroeconomic headwinds.In addition to reducing sell-in, the company implemented pricing programs with channel partners to reflect challenging market conditions that are expected to persist into the third quarter.Data Center revenue, though a record, was somewhat short of the company's expectations, as it was impacted by supply chain disruptions. Second quarter results are expected to include approximately $1.32 billion of charges, primarily for inventory and related reserves, based on revised expectations of future demand."We believe our long-term gross margin profile is intact. We have slowed operating expense growth, balancing investments for long-term growth while managing near-term profitability. We plan to continue stock buybacks as we foresee strong cash generation and future growth," she said.Gaming stock peers: GME, SNE, NTDOY, MSFT, TTWO, EA, ATVI