Nvidia Issues Muted Outlook as Gaming Revenue Drops 33%

Nvidia gave a muted outlook for its current quarter, two weeks after warning investors that its videogaming business was hit by a downturn in demand.

The company Wednesday said it is expecting sales of about $5.9 billion for the current quarter, below the $6.9 billion analysts expected in a FactSet survey and well below the $8.4 billion Wall Street expected before the sales warning. The projected sales figure represents a decline of 17% compared with the same period last year.