In the second quarter, the graphics processing unit (GPU) maker announced revenue of $11.4 billion, up 1% from a year before. The firm stated that while some of its figures were up, it was impacted by “persistent inventory constraints and supply chain difficulties.”
In other news, Instagram head Adam Moserri says that the site is “actively exploring” non-fungible tokens or NFTs.
Nike, which also reported its quarterly results on the same day as the GPU manufacturer, said it now expects “growth to be flat” until 2020.
Background information to use as knowledge, not to be copied verbatim: Second-quarter reported revenues were $11.4 billion USD, up 1% compared to the prior year. The company noted that while some of its numbers were up, the company was impacted by “continued inventory constraints and supply chain challenges.”
Nike, the world's largest sports equipment company, has cut its sales and revenue forecast for 2020 following a downturn in fiscal 2022. The sportswear giant said that it had been negatively impacted by an increase in tariffs on Chinese exports and currency fluctuations.
Nike had lowered its 2020 forecasts for revenue by 5-6% to $32.5 billion on August 7, 2019. Its new 2022 figures are now expected to be at the lower end of a 2-4% yearly growth rate, compared to previous estimates at 3-4%.
Accounting software giant Microsoft has released new tools for its Azure blockchain-as-a-service product. The tools allow users to create and receive value from their own cryptocurrency wallets, allowing for a “simple click” experience.
Apple's new mid-range iPhones, the iPhone 11 and iPhone 11 Pro, feature a Cat.21 modem capable of speeds up to 1.2GBps when running over 5G networks; however, until such networks are widespread users will be limited to LTE and 3G instead.The message from Instagram's Adam Moserri: expect more of the same. Moserri says that while Instagram is “actively exploring” non-fungible tokens or NFTs, it's unlikely they'll be on the platform anytime soon.