But one quarter is just one quarter (and even one year is just one year). In short, Nvidia's overall results for the second quarter were disappointing. In the earnings release, the company said that its Q3 gaming and professional visualization revenue "are expected to decline sequentially, as OEMs and channel partners reduce inventory levels to align with current levels of demand and prepare for NVIDIA's new product generation." The good news is that it expects these declines to be partially offset by sequential growth in its data center and auto platforms. Going into the report, Wall Street had been modeling for Q3 adjusted EPS of $0.85 on revenue of $6.95 billion, so the company's outlook fell short on both counts.
It also guided (albeit indirectly, by providing a bunch of inputs) for adjusted EPS of $0.72, a drop of 38%. Third-quarter guidance was lighter than expectedįor the fiscal third quarter, management expects revenue of $5.9 billion, representing a decline of 17% year over year. The results in this category have been volatile because of the volatility of the cryptocurrency market. She attributed the OEM and other category's year-over year revenue decline to lower sales of the company's cryptocurrency mining processor (CMP), and its sequential decline to lower notebook OEM sales. While the data center platform performed well, Kress noted that its revenue fell somewhat short of management's expectations because of supply chain disruptions. The company reduced product prices because it expects challenging market conditions for gaming products to continue into the third quarter. In her CFO commentary, Colette Kress said the gaming platform's revenue performance was hurt by "reduced channel partner sales due to macroeconomic headwinds" and lower product prices. OEM = original equipment manufacturers OEM and other is not a target market platform. Platform performance Platformĭata source: Nvidia. Investors should focus on the adjusted numbers, as they exclude one-time items. GAAP = generally accepted accounting principles. Nvidia's key numbers Metricĭata source: Nvidia.
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