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Nvidia crash 20% as crypto crash weakens demand

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Nvidia Corp. (NVDA) reported third quarter adjusted EPS of $1.84 after the bell Thursday, up from $1.33 a year ago. Analysts expected EPS of $1.71. Revenues jumped 21 percent to $3.18 billion from $2.64 billion last year. Analysts had a consensus revenue estimate of $3.24 billion.

Looking forward to the fourth quarter, the company expects revenues of $2.70 billion, plus or minus two percent. Analysts currently estimate revenues of $3.40 billion for the quarter.

Nvidia has gapped open sharply lower Friday morning and is now down 40.13 at $162.26 on above average volume. The stock has tumbled to a new low for the year.

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