Shares in Nvidia fell in after-market trading Thursday after the company s forecast for the current quarter failed to meet Wall Street expectations, an apparent fallout from slowing PC sales.
The Milpitas maker of graphics chips used in PCs, gaming, cars and supercomputers, forecast second quarter earnings of about $1.01 billion, below analysts estimates of $1.185 billion reported by Thompson Reuters.
Revenue was up 4 percent from a year ago, but down 8 percent from the previous quarter. Profit down 2 percent from a year ago, and 31 percent from the prior quarter.
The company said it will take a restructuring charge of $100-$125 million on severance and other costs related to its wind-down of Icera modem operations, and is open to a sale of the technology or operations.
The company met estimates of 24 cents a share on fully-reported earnings.
Nvidia listed several achievements during the quarter, announcing a car computer for self-driving cars and the launch of Shield, a home entertainment device, as well as several of new graphics and computer accelerator chips.
Shares were down more than 2 percent to $22 in after-hours trading
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