Nvidia stock falls on light guidance

Nvidia reported fiscal first-quarter earnings on Wednesday.

The stock dropped in extended trading after the chipmaker gave a light forecast for the current quarter.

Nvidia will slow down its hiring pace and control expenses as the company deals with a challenging macroeconomic environment, its CFO Colette Kress said.

Nvidia will slow down its hiring pace and control expenses as the company deals with a challenging macroeconomic environment

CFO Colette Kress said after the company reported fiscal first-quarter earnings on Wednesday.

Nvidia beat analyst expectations for sales and earnings, but the stock dropped more than 10% in extended trading at one point after the chipmaker gave a light forecast for the current quarter.